Wednesday, March 19, 2008
Musicians Suing Record Corporados Form Not Sharing Settlement Funds
Consumerist: None of the estimated $400 million that the RIAA received in settlements with Napster, KaZaA, and Bolt over allegations of copyright infringement has gone to the artists whose copyrights were allegedly infringed. Now the artists are considering suing the RIAA. Lawyers who have represented artists such as The Rolling Stones, Van Halen, and Christina Aguilera say artists and managers are upset that they haven't seen any of the settlement money the RIAA received after suing the popular file-sharing services. According to the New York Post, the artists are "girding for battle with their music overlords," who respond that they have "started the process" of figuring out how to share the money, most of which was received seven years ago in a settlement with Napster. The RIAA also claims that there isn't actually that much money available after subtracting legal fees.