LimeWire has finally agreed to pay $105 million for promoting illegal filesharing after a protracted five-year legal battle with record execs.
The settlement was reached out of court with 13 record companies, only days after the start of a trial accusing the company of “massive scale infringement.”
According to RIAA, music sales in the U.S. weighed in at $14.5 billion in 1999, plummeting to $7.7 billion in 2009, primarily because of the predominance of peer-to-peer filesharing networks.
Full story: Limewire settles with music industry for $105 million | TG Daily