Everyone get yer refund? hahaha
Notice the story doesn't say how much the lawyers made in this. I bet it's more than $14.... LOL.
Don't spend it all in one place...
CD settlement checks on their way
Feb. 20, 2004
Refunds on the way to millions of consumers in music price-fixing case
LOS ANGELES - Millions of U.S. music fans will soon begin receiving refund checks as part of a $143 million settlement of a price-fixing lawsuit against five distributors and three retailers.
Checks for about $14 each are on the way to 385,637 Californians as part of a national lawsuit settlement with the music industry, including West Sacramento-based Tower Records, over the price of compact discs.
Each customer who registered a claim between December 2002 and last March will receive about $13.86 from the settlement, which stemmed from a lawsuit that alleged music distributors and retailers conspired to raise the price of prerecorded music. To be eligible, customers must have purchased a CD from a retailer from 1995 through Dec. 20, 2000. Nationwide, the consumer refunds total more than $67 million.
"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 in announcing the distribution of the checks. "Just as important, the settlement reforms the companies' business practices to ensure they do not similarly victimize consumers and harm the marketplace in the future."
Plaintiffs alleged that the defendants formed illegal conspiracies to set minimum prices for CDs, with music distributors subsidizing the promotional costs of selling CDs for retailers who agreed to charge minimum advertised prices dictated by the distributors. The settlement bars the defendants from entering agreements designed to maintain or control the price at which retailers can sell music CDs, and prohibits distributors from terminating business with dealers or retailers who won't sell music CDs only at suggested retail prices.
The music industry will also distribute about 5.6 million CDs to music-related charities and other agencies. In California, roughly 665,000 CDs valued at about $9 million will be distributed to public schools, colleges and libraries, starting in May.
The defendants didn't admit wrongdoing in the settlement. Accused along with Tower were Capitol Records Inc., Virgin Records America Inc., Warner Music Group Inc., Universal Music Group Inc., Sony Music Entertainment Inc. and Musicland Stores Corp.
The checks were originally supposed to go out in July, but legal wrangling delayed them. Tower filed this month for protection of the courts under Chapter 11 of the bankruptcy code while it reorganizes.