I had all forgotten about LimeWire since November of last year when RIAA actually managed to win a lawsuit. It was originally filed in 2007, two years after the Supreme Court ruled that file-sharing companies could be sued for illegal distribution even if the service could be used legally. This left LimeWire on the hook for for damages that could have exceeded $1 billion in regards to 10,000 recordings released after 1972.
Arista Records LLC et al v Lime Group et al, U.S. District Court, Southern District of New York, No. 06-05936 went before a jury trial the first week of May where Edgar Bronfman, the CEO of Warner testified that LimeWire not converting to a legal service was "devastating, frankly." The jury seems to have sided with Bronfman and the 13 record companies LimeWire was forced to settle with. Some of which were Atlantic, Capitol, Interscope, Arista, BMG Music, Motown, Elektra, UMG, Virgin, Sony and Warner. Damages were awarded in the amount of $105 million which is a win for both sides considering that the labels received compensation and LimeWire didn't have to shell out anywhere near $1 billion. All parties seem to be relieved that all this is behind them, even law firm Willkie, Farr & Gallagher who represented LimeWire,
Maybe everyone except RIAA which is basking in the glory of it's 0 for 10,000 record with lawsuits. Their CEO Mitch Bainwol said,
Do you think this is a fair settlement? Let us know in the comment section below.read more...