|
Millions Owed To CD Buyers
http://www.cnn.com/2003/TECH/ptech/0....ap/index.html
Judge: Millions of CD buyers owed money Tuesday, June 17, 2003 Posted: 4:07 AM EDT (0807 GMT) PORTLAND, Maine (AP) -- A judge has approved a settlement agreement in a music antitrust lawsuit that will result in more than 3.5 million consumers receiving nearly $13 each. Judge D. Brock Hornby issued a 51-page ruling Friday in the case that began in 1996 when attorneys general across the country began investigating whether distributors and retailers had conspired to inflate CD prices. "This settlement will put cash in the hands of millions of consumers and music CDs in libraries and schools throughout the country, and will ensure that the challenged distributor/retailer practices will not resume," Hornby wrote. Details still to be decided The ruling, however, does not stipulate exactly how much consumers will receive or when the checks will be distributed. More than 3.5 million consumers filed claims, now estimated at $12.63 each. Hornby asked lawyers to present him with a report by the end of the month on how much it will cost to distribute the checks and how much each check will be. He also deferred ruling on a plan on how millions of CDs will be distributed to the schools and libraries. The lawsuit, signed by the attorneys general of 43 states and territories and consolidated in Portland in October 2000, accused major record labels and large music retailers facing competition from discounters like Target and Wal-Mart of conspiring to set minimum music prices. The defendants -- Sony Music Entertainment, EMI Music Distribution, Warner-Elektra-Atlantic Corp., Universal Music Group and Bertelsmann Music Group, and retailers Tower Records, Musicland Stores and Transworld Entertainment -- deny any wrongdoing. Attorneys representing the companies declined to testify in court. Old settlement disapproved Of the total settlement, $75.7 million would be distributed in the form of 5.6 million music CDs sent to libraries and schools throughout the nation. The proposed cash settlement in the case totals $67.3 million, with roughly $44 million to be distributed to the public. The remaining cash will go toward distribution costs and legal fees. Hornby disapproved a settlement agreement regarding music club sales that would have been just over $1 million in cash and provided 50 percent discounts for club members on one to three new CDs. Hornby wrote that virtually all the cash would go to attorney fees, leaving little value to club members. He added that music club defendants have not proven that they were part of any pricing conspiracy. -------------------------------------------------------------------------------- Copyright 2003 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. |
So I am getting $12.36 back? Hmm, I could buy a CD with that....:D
|
Originally posted by Brain Stew So I am getting $12.36 back? Hmm, I could buy a CD with that....:D |
Nah, Best Buy has 100's of CD's you can buy for less than $12.63, including almost all new releases.
|
How many blank CD-R's can I buy with $12?
|
Originally posted by Flashback How many blank CD-R's can I buy with $12? --Rob |
Originally posted by Flashback How many blank CD-R's can I buy with $12? rotfl -k ### |
Best Buy sold their interest in Musicland none too soon then. The music industry deserves this.
|
Originally posted by Flashback How many blank CD-R's can I buy with $12? At least 100 after rebate (Best Buy has an Imation spindle of 100 for 25 bucks, with a 16 dollar rebate ;)) |
Sorry, I was thinking, screw them they aren't getting their money back. I'm buying a dvd(or getting a significant discount on one).
|
Originally posted by Michael Corvin Sorry, I was thinking, screw them they aren't getting their money back. I'm buying a dvd(or getting a significant discount on one). |
Music settlement checks are in the mail Associated Press February 21, 2004 LOS ANGELES -- Millions of U.S. music fans soon will begin receiving refund checks as part of a $144 million settlement of a price-fixing lawsuit against five distributors and three retailers. Checks for $13.86 each were mailed Friday to about 3.5 million consumers who bought compact discs, vinyl records or cassettes from 1995 to 2000 and filed refund claims by last March. Attorneys general for 43 states and territories filed the antitrust lawsuit in 2000, alleging the companies illegally conspired to raise the prices of their products by imposing minimum pricing policies. All the companies denied any wrongdoing. "The refunds provide a measure of much-deserved justice to consumers in California and across the nation who were gouged because of the defendants' deals to stifle competition and artificially inflate music CD prices," said California Attorney General Bill Lockyer. About $47.4 million was being paid in consumer refunds. The companies also were giving 5.6 million music CDs, worth about $77 million, to libraries and schools across the country. About $20 million of the final settlement was used to pay for attorneys' fees and other administrative costs, said Tom Dressler, Lockyer's spokesman. A federal judge in Portland, Maine, approved the settlement in December. Defendants included Sony Music Entertainment, EMI Music Distribution, Warner-Elektra-Atlantic Corp., Universal Music Group and Bertelsmann Music Group, as well as retailers Tower Records, Musicland Stores and Transworld Entertainment. Indiana is among the states that are parties to the settlement. |
Got mine in the mail today!
|
same, i however signed up for this last year.
|
Didn't Tower just file Chapter 11?
|
Originally posted by POWERBOMB Didn't Tower just file Chapter 11? |
Originally posted by Michael Corvin Sorry, I was thinking, screw them they aren't getting their money back. I'm buying a dvd(or getting a significant discount on one). The defendants -- Sony Music Entertainment, EMI ... deny any wrongdoing. |
buying a dvd
If you go out and buy a dvd you are just giving your money back to these companies in a different way. All the music companies also own the movie companies. Buy a book.
|
"Buy a book."
Or better yet, buy it USED!! |
I got my check back today!! A wopping $13.86!! It came with a form letter from my states (Virginia) Attorney General, Jerry W. Kilgore. How nice.
I wonder how big the lawyers (who filed this class action suit) check is? I bet it's a lot more than $13.86, that's for sure. Oh well, I'll happily take mine, and go get some more CD-R's. |
Hmm... let's call it even OK?
|
got mine as well, i'd have prefered industry reform and less cost for music but i guess that'll have to wait...
|
I think I supposed to be getting one of these things, but I'm not holding my breath out for this. Columbia House and the BMG Music Club both had given me vouchers for a free CD some time ago.
|
Re: Millions Owed To CD Buyers
Originally posted by borisdisco A judge has approved a settlement agreement in a music antitrust lawsuit that will result in more than 3.5 million consumers receiving nearly $13 each. |
hehe I'm in jersey and just got my $13.86 check today also....so many possibilities of what I can do with it..oh joy!
|
| All times are GMT -5. The time now is 04:01 PM. |
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.