Wednesday, May 18, 2016

Could Owe $500 Million After Being Found Guilty in E-Book Antitrust Case

After beingfound guiltyin federal court of conspiring to artificially inflate e-book prices, legal experts are estimating that could owe as much as $500 million in damages.

GigaOmhasshared a chartprovided to the federal judge in the case by the Texas attorney eral. It shows how much in damages the five publishers have been found liable and how much they have paid in settlements. The remainder -- after damages have been trebled for willful violations -- works out to roughly $500 million.
The chart shows that the publishers have paid out over $166 million so far. rlier this month, a lawyer from Ha Berman — the class action firm in the case —told my colue Jeff Robertsthat would likely face a liability payment of harm to consumers times three, minus the $166 million alrdy paid out by publishers. On Wednesday, Law360reported(paywall) the same thing, calculating that if loses its appl it would face about $490 million in damages. I annotated the chart above with those figures.
has indied that it will appl the guilty ruling and it's likely that it will be many months or even yrs before the case is resolved.

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