Attorneys General from Iowa and 27 other states have filed a lawsuit against the world’s five largest record labels. Iowa Attorney General Tom Miller says the companies worked together to “fix” the prices of CDs.Miller says the five companies subsidized advertising campaigns from retailers who agreed not to sell compact discs below a set price. He says in the early 1990s CD prices had gone just below ten dollars, but the action by the companies pushed them back up to 14 or 15 dollars.Miller says the attorneys general want restitution for consumers.However, Miller says it’ll be difficult to make refunds to individuals.The lawsuit was filed against Universal, Sony, Time Warner, E-M-I, and B-M-G. Those five distribution companies control 85 percent of CD sales in America.
