LimeWire Reaches Settlement
LIMEWIRE has reached a $105 Million agreement with record companies.
It has been a very long and slow process for LimeWire. The court date was originally dated October 26, 2010. Here we are almost a year later and we almost have reached the end of it. Also back in October when it started, they were forced to stop distributing copies of the software. In a statement, the RIAA said that the settlement was “another milestone in the continuing evolution of online music to a legitimate marketplace that appropriately rewards creators,” while LimeWire’s attorney said simply that he was “pleased that this case has concluded.” If you read it carefully, you should notice that he said another. So this must mean that there will be plenty more law suits like this one to come in the future.
So in the end, the company reached an out of court settlement with the major record labels yesterday, which will see it and its founder, Mark Gorton, hand over $105 million to finally put an end to its longstanding dispute with the RIAA.
The injunction can be found here: http://download.limewire.com/injunction/Injunction.pdf.