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Press Release

Boundless Reaches Settlement in Lawsuit With Textbook Publishers

BOSTON, MA--(Marketwired - December 18, 2013) - Boundless today reached a settlement agreement with three of the top five educational publishers. The lawsuit has been ongoing since March 2012, when Pearson Education, Cengage Learning and Bedford, Freeman & Worth Publishing Group (owned by Macmillan Publishers) filed against Boundless for alleged unfair competition, false advertising, and copyright infringement. In May 2013, Boundless entered mediation with the publishers, and today the lawsuit was resolved through a confidential settlement agreement and a consent judgement.

In agreeing to a confidential settlement agreement, along with a public judgment and injunction entered by the Court, the parties have resolved the dispute. The resolution allows the parties to move forward and focus on their mutually shared goal of helping students learn. Boundless now has a clear path for building and marketing its OER-driven textbook alternatives without treading upon the Plaintiffs' rights, and it is confident that it is in compliance and will not have further legal issues with the Plaintiff publishers. In turn, Plaintiffs have reinforced the strong protection they have in and to their copyrighted works and the related goodwill that they and their authors have established, and look forward to Boundless operating its business within the agreed upon framework.

"Boundless was founded with the vision of changing and improving education, one of the world's oldest, most respected industries -- and an industry with huge opportunity for innovation and technology-driven change," said Ariel Diaz, founder and CEO of Boundless. "We've seen amazing growth since our founding in 2011 and look forward to continuing to innovate and create high-quality, effective products for learners and educators around the world."

Higher education is in a time of massive change and innovation. Boundless combines the power of the Internet and open educational content to build a cost-effective platform that allows students to learn better. Since the lawsuit was filed in 2012, Boundless has grown exponentially, including expanding content sevenfold, increasing its reach to more than 3 million students and educators, and building a new, recently released platform designed for educators. Learn more about Boundless' growth.

About Boundless
Boundless creates affordable and effective online textbooks and learning tools that improve education for millions of students and educators. The company's high quality textbooks align to hundreds of popular college textbooks in 20+ subjects. Boundless integrates custom learning technology into all its premium books to help students study more efficiently at a fraction of the cost of traditional textbooks. The company also empowers educators to engage their students more effectively through customizable books and intuitive teaching aids as part of the Boundless Teaching Platform.

Media Contacts
Erica Orthmann or Chantal LeBoulch
LaunchSquad for Boundless
617-945-1915
boundless@launchsquad.com

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