COPYRIGHT
Internet

The Recording Industry Association of America (RIAA) has asked a federal court to freeze the assets of file-sharing company LimeWire and its founder, Mark Gorton, alleging assets have been moved in an attempt to avoid paying damages for copyright infringement, CNET News.com reported. LimeWire was found guilty of inducing copyright infringement in May and it is widely beliwved that the service will close or indeed  be permanently closed by the court. During the trial, the RIAA noted LimeWire had generated over $20 million in ad revenue. The RIAA have daid that LimeWire founder Groton began trying to hide assets days after the Supreme Court’s landmark MGM v. Grokster ruling in 2005, transferring 87.1% of the company’s ownership to a family trust. While Gorton has filed statements offering different reasons, the RIAA claims Gorton moved the assets to avoid paying copyright infringement damages, which experts told CNET could reach $1 billion in the case.
http://www.dmwmedia.com/news/2010/07/12/riaa-asks-court-freeze-assets-limewire-founder