Record Labels Sue Verizon For $2.6B Alleging 'Massive Copyright Infringement'
Portfolio Pulse from Benzinga Neuro
Several major record labels have filed a $2.6 billion lawsuit against Verizon Communications Inc. (NYSE:VZ) for allegedly facilitating massive copyright infringement by its subscribers. The lawsuit claims Verizon ignored hundreds of thousands of infringement notices and continued to provide high-speed internet to known repeat infringers.
July 16, 2024 | 5:30 am
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Verizon Communications Inc. is facing a $2.6 billion lawsuit from major record labels for allegedly facilitating massive copyright infringement by its subscribers. The lawsuit claims Verizon ignored hundreds of thousands of infringement notices and continued to provide high-speed internet to known repeat infringers.
The lawsuit could lead to significant financial liabilities and damage Verizon's reputation. The legal battle may also distract management and impact operational focus. Investors may react negatively to the potential financial and reputational risks.
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