“We are pleased to have reached a large monetary settlement following the court’s finding that both Lime Wire and its founder Mark Gorton are personally liable for copyright infringement,” says Mitch Bainwol, of the Recording Industry Association of America (RIAA). “As the court heard during the last two weeks, Lime Wire wreaked enormous damage on the music community, helping contribute to thousands of lost jobs and fewer opportunities for aspiring artists.”

LimeWire reached an out of court settlement with 13 record companies including Universal, Warner, and Sony, which calls for it to pay a total of $105 million. This will finally put an end to LimeWire’s 5 year legal battle with the music industry. LimeWire was one of the last of the Peer2Peer programs, like Napster and KaZaa, to lose battles with the RIAA over illegal filesharing.

The record companies filed their complaint against LimeWire in 2006 and the US District Court ruled in their favor in May of last year. In June, eight members of the National Music Publishers’ Association filed a separate copyright suit against LimeWire, leading the service being shut down completely in October. A jury trial began last week to determine damages in the case, following a decision that LimeWire was liable for “massive scale infringement” for assisting users pirate digital music files. The music industry blames LimeWire for a $1b loss in sales.

Source: CNet