Limewire, the file sharing service thousands of people have used for trading music illegally (and legally), is on the hook for over $1 billion. BP is on the hook for $69 million for what looks to be the largest man-made catastrophe the Earth has ever seen (aside from The Backstreet Boys).
“The amount of statutory damages awarded in this case easily could be in the hundreds of millions of dollars (if not over a billion dollars),” the RIAA wrote to Wood, in seeking a court order to freeze LimeWire’s assets (.pdf). The Napster case eventually settled for more than $300 million.”
How did this happen?