E-books have become exceedingly popular and are earning publishers and writers good money. Amazon the biggest player in the e-book business was expected to take the most severe beating in regard with a lawsuit filed by Justice Department which had its roots in 2007. However, last week’s lawsuit has surprised all.
In fresh developments, Justice Department has sued Apple along with popular book publishers, Simon & Schuster, HarperCollins, Hachette, Penguin and Macmillan over collusion of fixing prices of e-books in a district court in New York. Following the recent lawsuit, book publishers HarperCollins, Simon & Schuster and Hachette have immediately agreed to settle outside court.
The Justice Department is entrusted with the job of protecting consumer rights, which is why the price fixing saga by Apple and popular book publishers has been nipped in the bud. Amazon that has bullied e-book business trends since the beginning has not yet been affected by the lawsuits made by Justice Department and continues to dictate terms in this segment. Amazon’s exemplary methods of keeping prices of e-books low has been praised by analysts and experts from various business domains.