Toronto, December 7, 2011
An important milestone has been reached in the Canadian class action lawsuit dealing with unpaid mechanical and video royalties by the major record labels.
CSI, as Settlement Administrator in the action, will be making its first market share distribution of royalties to the class on December 15, 2011. This distribution consists of the portion of the settlement funds associated with low-value items on each of the record companies’ pending list for Group I and II Products. For more information on this topic, please refer to the Distribution of Settlement Funds section of our website.
$8,731,737.55 will be paid out as part of this first distribution, $7,024,567.86 of which represents royalties for Group I Products and $1,707,169.69 of which represents royalties for Group II Products.