Post by jazzhead on May 11, 2023 21:57:44 GMT
“MoFi Approved For $25 Million Settlement For Using Digital In “All Analog” Vinyl Reissues
Last year, the audiophile label Mobile Fidelity Sound Lab was sued after it came to light that the company had used digital technology in some of their reissues that were touted as “all analog” or “tripe analog” records. In January, MoFi opted to settle the case, offering the choice for customers to secure a full refund for the return of their aggrieved albums or keep the albums and accept either a 5% cash refund or a 10% refund in credit. All told, MoFi purchasers would be entitled to an amount “expected to be over $25 million.”
Some cases in the class-action suit objected to the terms of the settlement, alleging that it was insufficient and that the company’s lawyers were trying to “ram an inadequate, collusive settlement through this court,” as Billboard reports. But today, a judge ruled that the settlement was adequate and that MoFi is now approved to move on to the next step of the settlement process, which will allow individual cases to accept the terms of the settlement or opt out of the deal. “The undisputed facts demonstrate that the proposed settlement is not the product of reverse auction or otherwise the result of collusion,” the judge wrote.
In a statement to Billboard, the lead counsel for customers who will settle with MoFi said: “The settlement terms are sound and fair, so we will be turning our attention to executing the notice program and getting the class members their compensation.”
A final hearing for the settlement is scheduled for October.“
www.stereogum.com/2223500/mofi-all-analog-vinyl-reissues-settlement/news/
MoFi are a bunch of c#%*$.
Last year, the audiophile label Mobile Fidelity Sound Lab was sued after it came to light that the company had used digital technology in some of their reissues that were touted as “all analog” or “tripe analog” records. In January, MoFi opted to settle the case, offering the choice for customers to secure a full refund for the return of their aggrieved albums or keep the albums and accept either a 5% cash refund or a 10% refund in credit. All told, MoFi purchasers would be entitled to an amount “expected to be over $25 million.”
Some cases in the class-action suit objected to the terms of the settlement, alleging that it was insufficient and that the company’s lawyers were trying to “ram an inadequate, collusive settlement through this court,” as Billboard reports. But today, a judge ruled that the settlement was adequate and that MoFi is now approved to move on to the next step of the settlement process, which will allow individual cases to accept the terms of the settlement or opt out of the deal. “The undisputed facts demonstrate that the proposed settlement is not the product of reverse auction or otherwise the result of collusion,” the judge wrote.
In a statement to Billboard, the lead counsel for customers who will settle with MoFi said: “The settlement terms are sound and fair, so we will be turning our attention to executing the notice program and getting the class members their compensation.”
A final hearing for the settlement is scheduled for October.“
www.stereogum.com/2223500/mofi-all-analog-vinyl-reissues-settlement/news/
MoFi are a bunch of c#%*$.
