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Warner Music faces 14 lawsuits over download fees ! - 5/7/2006 7:59:55 PM   
SiliconFreak


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Warner Music Group reported on Friday soaring digital music sales, even as the company continues to lose money and faces numerous lawsuits related to alleged price fixing of music downloads.

In documents filed with the Securities and Exchange Commission, Warner Music said the company has been named in 14 class-action lawsuits, most of which allege a "conspiracy among record companies to fix prices for downloads."

"The company intends to defend against these lawsuits vigorously," Warner Music said in its quarterly statement filed Friday.

The accusations come three months after Elliott Spitzer, New York's attorney general, began investigating whether several of the big music companies agreed to fix download prices. Such an agreement would violate antitrust laws.

Warner Music reported in its filing that it expects the 14 lawsuits to be consolidated into one. 

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Source CNET News
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