Amazon will soon issue partial refunds to Amazon Kindle customers who purchased e-books that were price fixed by the company’s book publishers. The refund which will be applied to the customers Amazon account and which can be used to purchase e-books or hard copies comes from a settlement between major publishers and a coalition of the Attorneys General.
In a statement to Amazon customers the company said Hachette, HarperCollins, and Simon and Schuster have settled an antitrust lawsuit on e-book prices. According to Amazon:
“Under the proposed settlements, the publishers will provide funds for a credit that will be applied directly to yourAmazon.com account. If the Court approves the settlements, the account credit will appear automatically and can be used to purchase Kindle books or print books.”
The price fixing scandal will lead to the three publishers paying out more than $69 million on consumers.
If approved in Federal court the settlement payments will be applied to each customers account by February 2012. The average refund will range from $0.30 and $1.32 for all eligible purchases between April 2010 and May 2012.
The settlement will also forbid publishers from working together to set e-book prices.
Publishers Macmillan and Penguin along with Apple, Inc. have refused to settle out of court.
Amazon was not directly involved in the settlement but notes:
“We think these settlements are a big win for customers and look forward to lowering prices on more Kindle books in the future.”
Do you expect to receive money back from Amazon if the settlement is approved by the court?