Fortune reports…..
Amazon is facing legal action regarding its influence in the book world.
A class action lawsuit, filed Thursday in federal court in New York, charges the online retail giant with colluding to fix prices on print books. Seattle law firm Hagens Berman alleges Amazon holds contracts with the five largest publishing houses that prohibit them from selling books to other retailers for less than what they charge Amazon.
Amazon did not respond to Fortune’s request for comment about the suit.
The legal action comes nine years after Apple and the five major publishers settled charges that they had colluded to raise the price of e-books, as they were unhappy with Amazon’s e-book price structure.
The new suit is filed on behalf of an independent Chicago bookstore, but seeks to include any book seller who has purchased works from Hachette, HarperCollins, Macmillan, Penguin Random House, and Simon & Schuster from March 2017 onward.
Read the full article
https://fortune.com/2021/03/26/amazon-price-fixing-print-book-prices-lawsuit/
