2020 Financial Highlights •Delivered sales of $11.8 billion, up 2.7%, and up 3.5% on an organic, daily, constant currency basis compared to the prior year (excluding divestitures and foreign exchange) •Generated reported operating earnings of $1.0 billion; adjusted operating earnings of $1.3 billion •Achieved $1.1 billion of operating cash flow and returned over $0.9 billion to shareholders through dividends and share repurchases. Fourth Quarter Financial Highlights •Delivered sales of $2.9 billion, up 3.3%, and up 5.6% on an organic, daily, constant currency basis compared to the fourth quarter 2019 (excluding divestitures and foreign exchange) •Generated reported operating earnings of $275 million; adjusted operating earnings of $295 million •Achieved reported operating margin of 9.4%, up 300 basis points; adjusted operating margin of 10.0%, down 75 basis points
In separate motions filed last month, Amazon and the Big Five publishers argued that a lawsuit accusing them of a conspiracy to fix e-book prices was “illogical” and should be dismissed. But in a lengthy opposition brief filed this week, lawyers for a potential consumer class portrayed their case as the second act of the Apple e-books case, and insisted there is more than enough evidence for the case to proceed.
In the 56-page filing, lawyers for the plaintiffs insist that the existence of Most Favored Nation clauses in the Amazon contracts of the Big Five publishers—the crux of the plaintiffs’ case—is sufficient to allow the case to proceed, especially given that the MFN is the same mechanism five major publishers and Apple used to eliminate price competition from the consumer e-book market in 2010.
more at source: https://www.publishersweekly.com/pw/by-topic/industry-news/libraries/article/87777-lawyers-argue-that-e-book-price-fixing-case-against-amazon-big-five-publishers-should-proceed.html