Settlement to Begin on Alleged Overpriced CDsIf you purchased a prerecorded music product (i.e., CD, cassette, vinyl album) during the period of January 1, 1995, through December 22, 2000, you may 1/14/2003 7:00 AM Eastern
If you purchased a prerecorded music product (i.e., CD, cassette, vinyl album) during the period of January 1, 1995, through December 22, 2000, you may be eligible to file a claim to receive between $5 and $20 compensation in a current lawsuit underway in the United States District Court for the District of Maine.
The plaintiffs allege that the defendants (the Big Five labels and their respective distributors, as well as retailers MTS, Tower Records, Musicland Stores and Trans World Entertainment) "conspired to illegally raise the prices of prerecorded music product by implementing Minimum Advertised Price policies, in violation of state and federal laws," according to the plaintiff's Website, www.musiccdsettlement.com. The defendants have agreed upon a settlement that is a combination of cash and noncash considerations.
A fairness hearing will be held on May 22, 2003, at 10 a.m. in Portland, Maine, to determine if this settlement should be approved, claims dismissed, application of counsel fees and reimbursement of costs, as well as a plan of distribution.
If you are eligible and would like to file a claim, visit www.musiccdsettlement.com. No receipt is necessary when filing a claim. If the settlement results in payments of less than $5 per person, then the proceeds will go to charity.