LimeWire, Labels Settle Lawsuit for $105 Million
Date: Thursday, May 12, 2011 @ 17:36:00 UTC

As had been rumored, multiple record labels on Thursday settled their copyright lawsuit against Lime Wire LLC and its founder, Mark Gorton, out of court for $105 million, according to a statement from the RIAA. "We are pleased to have reached a large monetary settlement following the court's finding that both LimeWire and its founder Mark Gorton personally liable for copyright infringement," RIAA Chairman and CEO Mitch Bainwol said in the statement. "As the court heard during the last two weeks, LimeWire wreaked enormous damage on the music community, helping contribute to thousands of lost jobs and fewer opportunities for aspiring artists." Complete Article

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