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Settlement OK'd In CD Price-Fixing Suit
A judge in Portland, Maine, on Friday approved a settlement agreement in the antitrust CD price-fixing suit against the majors and leading retailers, according to reports. Under the settlement, more than 3.5 million U.S. consumers will receive nearly $13 each; an additional $75.7 million will be distributed in the form of CDs sent to libraries and schools.
The suit, filed in 1996 and consolidated in Federal Court in Portland in August 2000, alleged that the major record companies and Tower Records, Musicland, and Trans World Entertainment had conspired to inflate CD prices. The settlement agreement was reached last fall; the defendants in the case denied any wrongdoing (Bulletin, Oct. 12, 2002).
The suit, filed in 1996 and consolidated in Federal Court in Portland in August 2000, alleged that the major record companies and Tower Records, Musicland, and Trans World Entertainment had conspired to inflate CD prices. The settlement agreement was reached last fall; the defendants in the case denied any wrongdoing (Bulletin, Oct. 12, 2002).
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Attorneys general in 41 states and three U.S. commonwealths yesterday (Sept. 30) announced a $143 million settlement of price-fixing charges against the five major U.S....
A coalition of 30 U.S. states and commonwealths has filed a federal lawsuit against the major music companies and the three largest U.S. music specialty ......
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.
More than 2.5 million people have filed to receive their share of the $67.4 million cash portion of the $143.1 million settlement of price-fixing allegations ......
Thirty states filed suit against the five major record companies and select retailers Tuesday, alleging that they engaged in illegal CD price fixing in violation ......
Trans World Entertainment chairman/CEO Bob Higgins may not publicly acknowledge that the Albany, N.Y.-based company is considered a leading contender to acquire Tower Records in ......
Attorneys general in 41 states and three U.S. commonwealths yesterday announced a $143 million settlement of price-fixing charges against the five major U.S. distributors and ......
Now that it's a moot point, it looks like Trans World Entertainment, rather than a consortium of buyers led by liquidator Great American, should have ......
Trans World considered favorite.
Attorneys general in 41 states and three U.S. commonwealths announced Sept. 30 a $143 million settlement of price-fixing charges against the five major U.S. distributors, ......
U.S. distributors of CDs and music retailers have agreed to settle charges they cheated consumers.
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Trans World, Radius Equity considered front-runners.
Trans World viewed as likely front-runner.
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