Courtesy of Publishers Weekly
By Andrew Albanese
In a joint filing last week, attorneys told Judge Denise Cote that they have finalized the agreement between Macmillan and the state and consumer classes to settle e-book price-fixing claims. The executed agreement now awaits Cote’s approval, which is expected.
Among the details: the price tag for Macmillan will actually top $26 million, rather than the $20 million settlement initially announced. The final settlement includes $20 million for consumer compensation; $3 million to cover the costs of the “investigation” and litigation; $2.475 million for plaintiff’s attorneys’ fees; and $1,000 for each of the named plaintiffs in the consumer class as a “service award.” The final payout for Macmillan is capped at $26,250,000. Payouts to consumers who bought e-books could begin sometime this summer.