Perhaps Settlement a Bit Ambitious?
When Munger, Tolles & Olson requested $75 trillion in damages for its clients, Federal Judge Kimba Wood promptly declared that request as ''absurd''. Could it be the firm wasn't aware that this amount is five times more than the current national debt? The suit includes thirteen record companies who filed a lawsuit against music sharing site LimeWire for violating Section 504(c)(1) of the Copyright Act. With thousands of users, the record companies claim they lost millions of dollars in profit. While they won't be awarded $75 trillion, the lawyers are confident they will secure a more than satisfactory settlement for its clients, even if Judge Wood sends them back to the drawing board several times.