Posts Tagged ‘LimeWire’

Limewire settles with music industry for $105 million due to illegal filesharing

Sunday, May 15, 2011 22:35 No Comments

LimeWire has finally agreed to pay $105 million for promoting illegal filesharing after a protracted five-year legal battle with record execs. The settlement was reached out of court with 13 record companies, only days after the start of a trial accusing the company of “massive scale infringement.” According to RIAA, music sales in the U.S. weighed in at $14.5 billion in 1999, plummeting to $7.7 billion in 2009, primarily because of the predominance of peer-to-peer filesharing networks. The music industry blames LimeWire for the loss of over $1 billion in sales, which prompted legislators to shut down the site in October 2010 after a court ruling. LimeWire was originall

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