Limewire pays $105m Settlement to Music firms

Posted: May 14, 2011 in Software

Software company Limewire has reached an out of court settlement with record labels that sued it for helping people pirate music.

The Lime Group has agreed to pay $105m (£64.6m) to 13 music firms.This amount is far less than the damage done by the software, developed by the Limewire group, to the music indestery.
The prolonged legal fight has led to Limewire being shut down.
“This hard fought victory is reason for celebration by the entire music community, its fans and the legal services that play by the rules,” said Mr Bainwol in a statement.
Limewire was a program that used peer-to-peer technology to help people find media on other computers and let others see their libraries of files.

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