States Settle CD Price-Fixing Case

This is a landmark settlement to address years of illegal price-fixing,\” New York Attorney General Eliot Spitzer said in a statement. \”Our agreement will provide consumers with substantial refunds and result in the distribution of a wide variety of recordings for use in our schools and communities.\”
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Former FTC chairman Robert Pitofsky said at the time that consumers had been overcharged by $480 million since 1997 and that CD prices would soon drop by as much as $5 a CD as a result.

Ha ha! Take that record industry! Where\’s my refund?