LimeWire Agrees To Pay $105 Million in Lawsuit Settlement

P2P network LimeWire on Thursday agreed to pay $105 million to settle a lawsuit that was focused on pirated materials across the company’s network.

Among the company’s suing Limewire were Sony, Vivendi, and Warner among others. At one point record labels and movie studios wants Limewire to pay $150,000 per shared download, a number that humorously would have amounts to trillions of dollars in payments.

While the settlement is a success for movie studios and record labels the case has taken five years to complete.

For their part LimeWire still maintains that they took steps to stop piracy across their network and that the site had legitimate uses, however a paid option failed to gain traction and after the site closed a large drop in piracy was witness across various entertainment and software based industries.