While much recent discussion regarding Apple’s guilty verdict on e-book price-fixing charges, we’re now getting the first glimpse at how consumers may benefit. Based on a proposed $162.25 million fund established by the five publishers who earlier settled, consumers could receive up to $3.06 per New York Times bestselling e-book they downloaded to their iPhone, iPod touch or iPad.
The exact amount depends on whether your purchased e-book was listed on the NYT bestseller list, with a smaller $0.73 disbursed if your e-book did not make it on the list…
Although Hachette, HarperCollins and Simon & Schuster have already had their settlement agreements approved by the court, MacMillan and Penguin are waiting for their agreement’s okay, according to MacRumors.
The two publishers recently emailed consumers regarding the proposal, including offering some information about what sort of refund they might receive. Persons who purchased e-books from Apple’s iBookstore between April 1, 2010 and May 21, 2012 are eligible for the refund.
According to the official website of the attorneys generals, e-book disbursals will happen depending on which company is involved.
The amount of your credit or check will be affected by how many qualifying e-books you purchased. There will be two levels of payment, based on categories of e-books. The exact amount to be paid per e-book in each category is not yet finalized.
That said, based on the plaintiffs proposed plan for a combined fund, these are current estimates:
• NYT bestsellers: $3.06 per e-book, including titles that were NYT bestsellers at any time, irrespective of when you purchased it
• Non-NYT bestsellers: $.73 per e-book, including any titles that were not NYT bestsellers
Minnesota residents will receive a higher amount because they were not part of the initial round of settlements. Amazon customers will receive the quickest reimbursements, their money automatically added to their account.
Apple, as well as Barnes & Noble, and Kobo users must activate their account credits, or ask for a check. Objections to the proposed settlements will be heard until October 21. Approval is set for a Dec. hearing.
As for Apple, the iBookstore firm could owe as much as $500 million.
A May 2014 court hearing is scheduled to determine Apple’s penalty.
By the way, if you bought e-books through Amazon, Apple, Barnes & Noble or Kobo, you were not required to file a claim form to participate in the settlements and will receive an email or postcard notice with information on how to activate your credit.