SFO Archive Forums - I missed my opportunity to get $20

Did anybody take advantage of this oppurtunity?

<span style='font-size:8pt;line-height:100%'>By Elise W., 16, from Ward Melville High School in Setauket, New York</span>

<span style='font-size:11pt;line-height:100%'>Did you buy a CD between 1995 and 2000? If so, the music industry could be ready to hand you $20.

No, it isn't a hoax. All consumers who purchased pre-recorded music, including CDs, tapes and vinyl records between January 1, 1995, and December 22, 2000, are plaintiffs in a major class-action suit filed against the music industry.

The suit ended in a $143 million settlement won in September 2002 by the Attorneys General of 43 states and commonwealths. All you have to do to collect your cut of the loot is file a claim online at http://www.musiccdsettlement.com/ by March 3, 2003.

New York and Florida Attorneys General initiated the anti-trust case, first brought into a Manhattan District Court in August 2000. They alleged that top distributors and retailers illegally conspired using a "minimum advertised price" (MAP) policy. Under a MAP agreement, labels paid for advertising if the stores maintained inflated prices. This means you and other consumers paid millions of extra dollars to buy music.

The defendants include music distributors Capitol Records, EMI Music Distribution, Virgin Records America, Priority Records, Time-Warner, Warner-Elektra-Atlantic, Rhino, Universal, Bertelsmann Music Group (BMG) and Sony Music Entertainment along with retailers Tower Records, Musicland, and Transworld Entertainment. All denied wrongdoing, but opted to settle rather than continue with expensive litigation.

In the settlement, the distributors and retailers agreed to end the use of MAP and make both direct-cash refunds and CD donations. State and non-profit organizations, such as libraries and schools, will receive 5.5 million CDs, valued at approximately $75.7 million. They will be apportioned according to state population.

Of the remaining $67.3 million, about $44 million will be used to directly compensate consumers -- the rest will cover attorneys' fees.

This $44 million means a $5-$20 refund per person. Each claimant will get the same amount; no matter how many CDs he or she purchased. Under the terms of the settlement, if more than 8.8 million people file and shares drop below five dollars, the sum will go to state and charitable organizations.

By the end of December 2002, just over 30,000 individuals had filed to receive their compensation. With the deadline fast approaching, prosecutors are disappointed with the low volume of claims thus far. Washington State Attorney General Christine Gregoire called the turn out "abysmal".

All claims must be filed before 11:59 PST on March 3, 2003 (2:59 AM on March 4, EST) to be valid. Call (877) 347-4782 to request a form.</span>

From www.channelone.com

Edited By Iplay2win on 1101221720