Warner Music Group reported on Friday soaring digital music sales, even as the company continues to lose money and faces numerous lawsuits related to alleged price fixing of music downloads.
In documents filed with the Securities and Exchange Commission, Warner Music said the company has been named in 14 class-action lawsuits, most of which allege a “conspiracy among record companies to fix prices for downloads.”
“The company intends to defend against these lawsuits vigorously,” Warner Music said in its 10-Q statement filed Friday.
The accusations come three months after Elliott Spitzer, New York’s Attorney General, began investigating whether the music company agreed to fix download prices.
Warner Music reported in its filing that it expects the 14 lawsuits to be consolidated into one.
14 lawsuits???!!!!!!! dam.
Its always nice to know that they too have their legal problems. Music fans sue the music labels rather then the other way around.