More Free Money!
by Al Yellon on Dec 5, 2003 11:43 AM CST
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About three years ago, the attorneys general of 43 states sued several record labels and large retailers, including Sony Music Entertainment, EMI Music Distribution, Warner-Elektra-Atlantic Corp., Universal Music Group and Bertelsmann Music Group, as well as retailers Tower Records, Musicland Stores and Transworld Entertainment, accusing them of price-fixing in the price of selling CD's.
Anyone who bought a CD from 1995 through 2000 could sign up to be a member of this class, in the class-action suit, with the proceeds to be distributed to the members of the class upon settlement.
The Chicago Sun-Times reports that it appears the case is almost settled, and everyone who signed up will get $12.60, about the price of a discounted CD these days. It's not much, but far more than people get in most suits of this type, where you generally get a dollar or so, or maybe a discount coupon. Here, 3.5 million people, myself included, will get an actual check.
The article also states:
"In addition, $75.7 million is to be distributed in the form of 5.6 million music CDs sent to libraries and schools throughout the nation."
This is a win-win situation for everyone. The RIAA ought to sit up and take notice.
Anyone who bought a CD from 1995 through 2000 could sign up to be a member of this class, in the class-action suit, with the proceeds to be distributed to the members of the class upon settlement.
The Chicago Sun-Times reports that it appears the case is almost settled, and everyone who signed up will get $12.60, about the price of a discounted CD these days. It's not much, but far more than people get in most suits of this type, where you generally get a dollar or so, or maybe a discount coupon. Here, 3.5 million people, myself included, will get an actual check.
The article also states:
"In addition, $75.7 million is to be distributed in the form of 5.6 million music CDs sent to libraries and schools throughout the nation."
This is a win-win situation for everyone. The RIAA ought to sit up and take notice.
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