Media downloading platform Limewire has settled out of court with the four major music labels for a reported $105 million, according to RIAA reports. The settlement follows a similar $115 million dollar settlement against Kazaa in 2006.
The damages, including personal liability money from Limewire founder Mark Gorton, is for damages against stolen media from the labels.
RIAA chairman Mitch Bainwol released the following statement: “We are pleased to have reached a large monetary settlement following the court’s finding that both Limewire and its founder Mark Gorton are personally liable for copyright infringement,” Bainwol said. “As the court heard during the last two weeks, Limewire wreaked enormous damage on the music community, helping contribute to thousands of lost jobs and fewer opportunities for aspiring artists.”