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Author Topic: LimeWire sued for 75 TRILLION $  (Read 8948 times)

Offline Synbios

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LimeWire sued for 75 TRILLION $
« on: March 23, 2011, 04:07:31 pm »
"13 record companies are trying to sue Limewire for $75 Trillion. The NYC judge in the case thinks it is 'absurd'."

I think it's absurd too. How can you ask for such an outrageous amount?

http://yro.slashdot.org/story/11/03/23/1930238/Limewire-Being-Sued-For-75-Trillion

Offline olddays1

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Re: LimeWire sued for 75 TRILLION $
« Reply #1 on: March 25, 2011, 03:42:34 am »
  Today we have some good news for the major record labels. The renowned market research group NPD has found that close to half of all Americans who were pirating music via P2P applications a year ago, have reportedly stopped doing so. As a result the number of US music pirates decreased by 12 million. NPD attributes this unprecedented shift to the LimeWire shutdown, but we fear that it wont have any effect on record label revenues.

http://torrentfreak.com/us-music-piracy-plunges-after-limewire-shutdown-110324/

Offline Synbios

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Re: LimeWire sued for 75 TRILLION $
« Reply #2 on: March 25, 2011, 03:46:59 am »
I read a similar article a few days ago. Overall, p2p and pirating has been decreasing (including both music and movies). Personally, I feel like it comes from the fact that it is more difficult to pirate things these days. You need access to private trackers or know how to setup BT and use public trackers. Let's be entirely honest, BT is not exactly noob friendly. It's not as easy as the LimeWire or Kazaa days where you just load one program, search and download within the same program.

Also, with the increasing popularity of more and more online video streams it makes it easier to watch movies and videos that way rather than download them. More and more people use youtube as a music player, as well. I think the decrease of p2p is from the lack of available pirating options that the every day consumer has.

I can't say that pirating overall has gone down, but it is a known fact that p2p has decreased.

Offline olddays1

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Re: LimeWire sued for 75 TRILLION $
« Reply #3 on: May 15, 2011, 03:33:40 am »
 In the midst of their jury trial, the company behind the defunct LimeWire client and the RIAA settled their dispute out of court. Limewire will pay $105 million to compensate the major music labels for damages suffered. A moment of justice for the music industry, but not necessarily for the artists. The recouped money is destined for reinvestment in new anti-piracy efforts and will not be used to compensate any artists.

According to the injunction that shut down LimeWire last year, the company “intentionally encouraged infringement,” its software was used “overwhelmingly for infringement” and the company knew about the “substantial infringement being committed” by LimeWire users.

The evidence further showed that LimeWire marketed its application to Napster users and that its business model depended on mass copyright infringements.

Following the injunction LimeWire immediately disabled its file-sharing client, but the trouble for the company was far from over. Record labels and music publishers kept chasing LimeWire demanding compensation for the losses they claim the file-sharing service operator had caused.

The labels calculated that the company behind the popular file-sharing client owed them up to a billion dollars, and they filed a claim to collect it.

Last week, a New York federal jury trial started, but before this came to an end the two parties agreed to settle the case for $105 million. The RIAA brought in 9,715 tracks as evidence, which means that the amount translates to $10,808 per track instead of the maximum $150,000 the jury could have awarded.

The labels are obviously pleased with the outcome of the case. They’ve successfully argued that LimeWire caused both them and their artists significant losses.

“The resolution of this case is another milestone in the continuing evolution of online music to a legitimate marketplace that appropriately rewards creators,” RIAA Chairman Mitch Bainwol said in a comment.

Too bad, however, that the RIAA isn’t sharing any of the ‘damages’ with the artists, to reward them. Despite presenting thousands of artists as victims in the case, none of them are expected to see any of the settlement money in their bank accounts anytime soon.

RIAA spokesman Jonathan Lamy previously told TorrentFreak that the ‘damages’ accrued from piracy-related lawsuits will not go to any of the artists, but towards funding more anti-piracy campaigns. “Any funds recouped are re-invested into our ongoing education and anti-piracy programs,” he said.

Thus far the RIAA has not announced officially how the LimeWire settlement will be spent, but we don’t expect them to steer away from their previous course. This makes today’s decision on compensation a victory for the major labels, but certainly not one for musicians.

http://torrentfreak.com/limewire-pays-riaa-105-million-artists-get-nothing-110513/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Torrentfreak+%28Torrentfreak%29&utm_content=Yahoo!+Mail