AfterDawn: Tech news

MP3.com update -- shares fell over 20%

Written by Petteri Pyyny (Google+) @ 07 Sep 2000 19:27

MP3.com's shares fell today over 20% after yesterday's ruling where judge ruled MP3.com to pay up to $250 million in damages to Seagram's Universal Music Group.
Despite the ruling, MP3.com plans to reopen their service My.MP3.com soon -- they didn't specify do they have some methods so that Universal's music can't be submitted to their service.

Whole legal issue started earlier this year around MP3.com's My.MP3.com service, because MP3.com "saved time" and stored 80,000 music albums to their servers and allowed people who can prove that they own the original CD to listen it through MP3.com's service.

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