p2pnet - rss feed: Refunds cleared in CD antitrust case
p2pnet.net News:- During the next two weeks, restitution cheques will be mailed to about 3.5 million music lovers across the US who bought CDs, cassettes and vinyl albums from music retailers between January 1, 1995 and December 22, 2000.
The money - $67,375,000 - is part of a national antitrust settlement agreement negotiated by attorneys general from around the country for when the major labels and three large music retailers conspired to illegally raise their prices by implementing “minimum advertised price” policies in violation of state and federal laws.
Under the terms of the settlement the defendants - who admit no wrongdoing - agreed to:
A permanent injunction preventing them from forcing retailers to increase CD prices ensuring competition in the marketplace; and, to pay the states a total of $70 million for consumer restitution, public distributions and investigation or litigation costs.
Each consumer who filed a claim will receive $13.86. In addition, the distributors will provide $75,700,000 worth of CDs .
The guilty parties - Ooops. Sorry. They “admit no wrongdoing” - are Capitol Records, Inc d/b/a EMI Music Distribution, Virgin Records America, Inc., and Priority Records LLC; Time Warner, Inc, Warner-Elektra-Atlantic Corp, WEA, Inc, Warner Music Group, Inc, Warner Bros. Records, Inc, Atlantic Recording Corporation, Elektra Entertainment Group, Inc, and Rhino Entertainment Company; Universal Music & Video Distribution Corporation, Universal Music Group, Inc, and UMG Recordings, Inc; Bertelsmann Music Group, Inc and BMG Music; and Sony Music Entertainment Inc; M MTS, Inc d/b/a Tower Records, Musicland Stores Corp, and Trans World Entertainment Corp.
Go here for more information.
