Judge stays price-fixing class-action suit against Hachette, HarperCollins
May 3, 2012 | 4:13 am
PaidContent reports that a judge has stayed an e-book price-fixing class-action case against publishers Hachette and HarperCollins on the grounds that the publishers are close to settling with state governments over the matter, and the states’ lawsuits trump the class action. Apart from Macmillan and Penguin, who are fighting the suit, Simon & Schuster wasn’t named because it has not signed a formal settlement memorandum yet.
This is hardly a surprise, of course, but it’s understandable that the plaintiffs would find this a bit disappointing; damage awards would likely be higher in a jury trial than in a state settlement. (And it will also be disappointing for the lawyers, who would take a big chunk off the top of any settlement if their case went through.)