A U.S. District Court today ruled that online music company MP3.com's (MPPP) copyright violation against Universal Music Group, the world's largest music group, was "willful". Universal is controlled by Seagram (VO) - Get Report.
Anticipating a negative ruling, investors were dumping the stock all morning. Before the trading was halted at 1:54 p.m., MP3.com was down 8.03% on the day.
Warner Brothers music group;
Sony Music Entertainment
, the music unit of
have all reached settlements with MP3.com that allow their music to be used in the database.
wrote about the trial in an earlier
story and also covered the
settlement MP3 made with