SAN FRANCISCO (AP) -- File-sharing software company LimeWire, which shut down last year after being barred from allowing people to share copyright-protected files online, has reached a $105 million out-of-court settlement with the major record labels.
Recording Industry Association of America Chairman Mitch Bainwol says his group, which represents the labels, is pleased with the settlement.
LimeWire, which had enabled people to share songs and other files over the Internet, had been fighting the RIAA for several years. The RIAA argued LimeWire's software encouraged illegal sharing of copyrighted music, and last May LimeWire was found liable of copyright infringement with a trial to follow early this year. That trial had started last week.
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