This article was written on May 06, 2006 by CyberNet.
The RIAA is bringing in another $30 million for a settlement that they received with BearShare. BearShare just couldn’t hold up any longer and ended up selling everything they had (domain name, user database, etc…) to iMesh for an unannounced amount.
This settlement was the second largest by a P2P company because Grokster settled last year for $50 million. The RIAA said that the Grokster case helped them settle the BearShare case because of the situation’s similarities.
The RIAA has tried to send letters to other networks like Warez P2P, Limewire, eDonkey and Soulseek but they have ignored any threats. There may be a chance that the RIAA will try to take these other companies to court and force them to shutdown their illegal file sharing services. Hopefully we do not see a domino effect here.
News Source: BetaNews
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