August 23, 2000 |
MP3.com Inc. shares rose 21% after the Internet music company said it reached a settlement with Sony Corp.'s Sony Music Entertainment to end a copyright infringement lawsuit. MP3.com rose $1.59 to close at $9.34 on Nasdaq. Earlier, the stock touched $11, or 83% below the 52-week high of $64.63, reached Nov. 8. Sony's American depositary receipts, each representing one ordinary share, rose 69 cents to close at $97.13 on the New York Stock Exchange.
January 24, 2000 |
The Recording Industry Assn. of America has sued MP3.com Inc. over its features allowing users to instantly hear music and add their personal music to a play list. The federal suit, filed in New York, claims the San Diego-based company illegally compiled an online library of 40,000 copyrighted albums. Officials with MP3.com could not immediately be reached for comment.