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Register Now for CD Settlement Print E-mail
Monday, 24 February 2003 09:10

You must register by March 3, 2003 for recognition as part of the legal settlement against the recording industry.

Members of the RIAA attempted to coerce discount music stores to fix their prices above their normal rates in order to keep them from competing with stores that charged higher prices, but shared retail advertising costs with the record companies. Price fixing is an anti-trust violation and the attorney generals of 43 states took the record companies to task.

The result is that the defendants are obligated to pay $67,375,000 in cash and $75,700,000 in CDs to the public. Twenty dollars of that money may belong to YOU if you bought CDs from a retail store between January 1, 1995 and December 22, 2000. Consider it a refund for the difference in the price (average $16) that you paid and the price that you should have paid ($10-11) on a few of those CDs.

By some fluke, although the notice was published in major newspapers and magazines, only a little over 30,000 people have asked for their refunds. Go to the settlement website and register now as a member of the settlement class!

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