File-Sharing Service Pays $30M To Music Industry

Law360, New York (May 5, 2006, 12:00 AM EDT) -- In yet another win for the music recording industry, the owner of online file-sharing service BearShare has said it will shell out $30 million to steer clear of potential lawsuits over alleged copyright infringement, according to court documents.

Free Peers Inc. the distributor of BearShare software, also decided to stop its operations in unlicensed online music services.

A number of major record labels approved the BearShare settlement, which was spearheaded by the Recording Industry Association of America (RIAA). The terms of the settlement await approval by...
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