Sources: Majors In Talks To Settle Price-Fixing Suits
The price-fixing class-action lawsuits against the five majors and a number of the large music chains appear to be headed for a settlement. The defendants are said to be individually involved in payment negotiations to end the actions, which were initiated in August 2000 by consumers and embraced by
attorney generals in various states after the majors settled with the Federal Trade Commission over anti-trust allegations. The various actions--which centered on the minimum-advertised-pricing policies that were discontinued in 2000--were subsequently consolidated into one case being heard in U.S. District Court in Portland, Maine.
A settlement conference was held April 30, and now, sources say, each defendant is negotiating its own deal for how much it will have to pay in order to be dropped from the suit.
The lawsuits state that the Musicland Group, Trans World Entertainment, and Tower Records put pressure on the majors to institute MAP policies that were aimed at "fixing, raising, maintaining, or stabilizing" prices at artificial levels (Bulletin, Aug. 9, 2000).
A settlement conference was held April 30, and now, sources say, each defendant is negotiating its own deal for how much it will have to pay in order to be dropped from the suit.
The lawsuits state that the Musicland Group, Trans World Entertainment, and Tower Records put pressure on the majors to institute MAP policies that were aimed at "fixing, raising, maintaining, or stabilizing" prices at artificial levels (Bulletin, Aug. 9, 2000).
In addition, make sure to read these articles:
- Philly Record Store Files Cd Price-fixing Suit
- Mercedes-Benz USA Confident Of Victory In Class Action Suit.
- SRAM probe prompts class-action lawsuits
- Bidding For Tower Lingers Until 2004
- Bilboard Spotlight: Indies Thrive, Majors Survive
- Retail Track: Merchants Can Do More To Drive Their Web Site Sales
- Creed Links With Retailers For Web Promo
- Retail "cannibalization' By Net Sales Seen
- Between The Bullets
- Retail Hopes To Continue '97 Momentum
- Retailers Experimenting With Design Approaches
- Tower Bidding Lingers
- Debts, Remuneration Determined In Map Settlement
- Cross-promoting "clay' Creed's Wind-up Set Gets Unique Push
- Labels Must Take Long-term View To Avoid Price War Fallout
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