July 14, 2014 12:51 PM ET

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Company Overview of Penguin Group (USA) Inc.

Company Overview

Penguin Group (USA) Inc. publishes adult and children trade books in print and online editions. The company offers health, self-help, diet, and fitness books; fiction and nonfiction titles; science books; titles for children of all ages, including preschool and young adults; books for teenagers and adults; and self-help and how-to, business, and young adult and middle grade books. It also provides online tools and services for teachers, librarians, professors, and its educational distribution partners; and library services. The company was formerly known as Penguin Putnam Inc. and changed its name to Penguin Group (USA) Inc. in 2003. The company was founded in 1996 and is headquartered in Ne...

375 Hudson Street

New York, NY 10014

United States

Founded in 1996

Phone:

212-366-2372

Fax:

212-366-2933

Key Executives for Penguin Group (USA) Inc.

Chief Executive Officer
Age: 67
Executive Vice President of Business Operations
Age: 53
Chairman of Penguin Group and Chief Executive of Penguin Group
Age: 59
President of Penguin Young Readers Group
Age: 59
Compensation as of Fiscal Year 2014.

Penguin Group (USA) Inc. Key Developments

Massachusetts consumers Receives More Than $5 Million from Settlements over Electronic Book Price Fixing Lawsuit Brought Against Apple Inc. and Five Large E-Book Publishers

Massachusetts consumers are in line to collectively receive more than $5 million from settlements over an electronic book price fixing lawsuit brought against Apple Inc. and five large e-book publishers. The lawsuit was brought by the attorneys general of 33 states, including Massachusetts, and the total settlement was $166 million. The settlements have been approved by the United States District Court for the Southern District of New York. The lawsuit alleged that Apple; Hachette Book Group Inc.; HarperCollins Publishers LLC; Simon & Schuster Inc.; Holtzbrinck Publishers LLC, which does business as Macmillan; and Penguin Group (USA) Inc. conspired to eliminate retail price competition in order to raise e-book prices.

E-Book Buyers to Receive $166 Million in Credits over Price-Fixing Case

E-book consumers will receive compensation worth $166 million in aggregate, pursuant to settlements entered into by the attorneys general of numerous states with five e-book publishers on a price collusion case. The settlements arose out of an investigation and subsequent lawsuit brought by 33 states against Apple Inc. and five publishers - Hachette Book Group USA Inc., CBS Corp.'s Simon & Schuster Inc., News Corp.'s HarperCollins Publishers LLC, Penguin Group (USA) Inc. and Macmillan Publishers Inc. - over their alleged collusion to raise pricing on e-books. A federal judge ruled July 2013 that Apple conspired with the publishers.

Wisconsin Residents to Split $3 Million from e-Book Settlement

Wisconsin Attorney General J.B. Van Hollen said March 25, 2014 that the U.S. District Court for the Southern District of New York has now approved the $166 million in settlements of the lawsuit brought by the Wisconsin Department of Justice and the attorneys general in 32 other states against Hachette Book Group Inc., HarperCollins Publishers LLC, Simon & Schuster Inc., Holtzbrinck Publishers LLC (d/b/a Macmillan), and Penguin Group (USA) Inc. An account credit or check will be issued based on the number of eligible e-books purchased by a consumer during the claims period of April 1, 2010, to May 21, 2012. Apple Inc. of Cupertino, Calif., was also sued but did not agree to settle. After a three-week trial in June 2013, U.S. District Judge Denise Cote found that Apple played a central role in facilitating and executing a conspiracy to eliminate retail price competition in order to raise e-book prices, in violation of federal and state antitrust laws. A second trial to determine the amount of damages Apple must pay for that violation has been tentatively scheduled for May. If successful, additional account credits or checks will be distributed to Wisconsin consumers in the future.

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