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.
Macmillan denies any wrongdoing, and the filing also includes a stipulation that Macmillan will not participate in the upcoming e-book trial, currently slated to begin on June 3, with Apple and Penguin as defendants. The executed agreement comes as Judge Cote ruled that Penguin will participate in the upcoming bench trial, denying the publishers’ bid for a separate jury trial to settle the state and consumer class action.
