Ray Beckerman, a New York attorney who has defended individuals against RIAA lawsuits said the record labels have reason to feel happy. The settlement was hailed at the time by RIAA Chairman and CEO Mitch Bainwol as a "reason for celebration by the entire music community." A jury was in the process of deciding an appropriate penalty when LimeWire made its settlement offer yesterday. The court ordered LimeWire to cease its file sharing operations last October. District Court for the Southern District of New York, which heard the case, last year agreed with the RIAA's claims that LimeWire and its chairman, Mark Gorton, had enabled widespread music piracy. LimeWire said on Thursday it will pay $105 million to settle claims by 13 recording companies that its P2P file sharing software was responsible for enabling billions, and potentially even trillions of dollars in damages. Despite the successful suits, industry experts wonder whether the effort has succeeded in slowing down online music piracy.
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