The federal trial to decide what damages Lime Wire should pay labels after losing its copyright infringement case won’t get to make that decision after all. Lime Wire has settled with the 13 labels involved in the case for $105 million, ending the lawsuit. “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,” says RIAA chairman and CEO Mitch Bainwol. “The significant settlement underscores the Supreme Court’s unanimous ruling in the Grokster case — designing and operating services to profit from the theft of the world’s greatest music comes with a stiff price.” That stiff price could have been more than $1 billion if the trial had reached its conclusion, but both sides say they’re happy with the settlement. “Lime Wire and its founder, Mark Gorton, are pleased that this case has concluded,” says a statement from its law firm Wilkie, Farr & Gallagher. In March this year, Lime Wire settled a separate case with music publishers.Read more:http://tinyurl.com/6468vvg
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