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Thursday, September 7, 2000

NEAR TRUTHS

Rakoff Drops The Gavel And The Hammer On MP3.com To The Tune Of $118 Mil
By I.B. Bad

Judge Rakoff's decision on the MP3.com/UMG suit that MP3.com was willful in its copyright infringement and must pay $118 million, $25k per infringement, to UMG puts what many MP3.com insiders feel could be the final nail in the netco's coffin.

The 4.7k CDs that have already been included in the judgment could balloon to 10k, more than doubling the penalty. The decision will have no impact on settlements with Sony, Warner, EMI and BMG.

MP3.com insiders feel the judge had an agenda, which was exacerbated by michael robertson',390,400);">michael robertson',390,400);">Michael Robertson referring to him as "a man in a dress."

While speculators late yesterday speculated MP3.com stock might open as low as $2 a share, the stock actually opened at $6, dropping $1.88 a share.

 
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