Bucc5062 writes: "In a twist of fate, four major recording studios (Warner, EMI, Sony, and Universal) are being sued to the tune of 60 billion dollars for copyright infringement. Since the late 1980's the recording studios in Canada have used songs in compilation albums and CDs and did not pay royalties on the use of the song immediately. Instead they created a "pending list" of the songs with the "intent" to pay later. They never payed. The estate of Chet Baker, a late 1950s jazz musician, is leading a class action suit against the four studios along with small time names like Bruce Springsteen, Beyonce, and Sarah McLachlan.
The class action seeks the option of statutory damages for each infringement. At $20,000 per infringement, potential liability exceeds $6 billion.
These numbers may sound outrageous, yet they are based on the same rules that led the recording industry to claim a single file sharer is liable for millions in damages