Another chapter closes in the e-book antitrust fiasco.
Macmillan announced yesterday that it would settle several antitrust suits that claimed the publishing house conspired to raise e-book prices.
According to court documents, Macmillan will shell out $26 million to several states and individuals that accused it of wrongdoing. The settlement amount includes a $20 million fine, legal fees and an award to plaintiffs.
“We are extremely pleased in resolving the claims of class members across the country in the e-book litigation and we think it was an extremely good result,” said Hagens Berman Partner Jeff Friedman, who represented the plaintiffs. Macmillan did not comment on the settlement.
Parties involved in suits with the other publishers—which included Penguin Group, Hachette, HarperCollins and Simon & Schuster—reached settlements late last year.
Read more InsideCounsel coverage of the e-book suits: