Earlier this year, a judge ruled that major US record companies engaged in price-fixing and a $143 million settlement was agreed to. The 3.5 million customers who bought CDs between 1995 and 2000 and registered will receive checks for $12.60 each.
The entire cash payout to consumers amounts $44 million and $75 million is going to libraries and schools. The rest of the $143 million goes to attorneys. The suit revealed that record companies and retailers worked together to fix prices.
In the next two weeks, the checks to consumers will be sent out.
Source: abclocal.go.com and Shortnews.com
