MP3.com loses copyright process
MP3.com suffered severe defeat in the latest copyright lawsuit against Universal and was sentenced by the New York court to pay $ 25,000 for each Universal CD stored on my.mp3.com for willful breach of copyright .
Experts in the music industry estimate that around 10,000 of the 65,000 CDs stored at my.mp3 belong to Universal Music, which corresponds to a fine of 250 million US dollars. Mp3 has of course announced that it will appeal. The share price has meanwhile made an excursion of around 15% down.