LimeWire Reaches Settlement with RIAA
The infringement battle between the Recording Industry Association of America ("RIAA") and LimeWire has settled outside of court for approximately $105 million in damages. The action was initiated by the RIAA in response to LimeWire's person-to-person ("P2P") file sharing application.
The settlement amount is significantly lower than what analysts had previously estimated, with some approximating a value in excess of $150,000 per song. Since the parties settled without a trial, they avoided being held to a verdict. Therefore, the award of damages received by the RIAA will most likely be kept by the RIAA, and not be redistributed to the artists whose works are the basis of this infringement claim.
To learn more about this article, visit LimeWire, RIAA 'Settle' for Only $105M.
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