CD antitrust lawsuit approved by judge

PORTLAND – A federal judge has approved a $143 million settlement of a lawsuit that accused major record companies and large music retailers of conspiring to set minimum music prices.

Under the settlement signed by U.S. District Judge D. Brock Hornby, 3.5 million people who signed onto a music antitrust lawsuit are to receive shares of the award.

Checks for $12.60 are expected to be mailed out to the millions who mailed in claims and signed onto the lawsuit online.

An appeal that is holding up the settlement is expected to be resolved soon, said Portland attorney Fred Frawley, who is representing a number of private plaintiffs in the case.

“We’re hopeful the checks will be distributed as soon as possible,” he said.

After attorneys’ fees, the actual cash payout is expected to be around $44 million.