Great moments in damages calculation? Nope

Update: That’s what we get for posting hastily on a holiday weekend. We — and a great many other sites from CBS News to Business Insider to The Onion — took the below report seriously, but per Mike Masnick at TechDirt, it’s both outdated — Judge Kimba Wood rebuked RIAA’s damage demand as excessive, and the LimeWire case settled for a far lower amount — and more broadly questionable (while the original demands might have reached trillions, and were justly subject to ridicule on that account, the jump to $72 trillion seems to be at best someone’s subjective extrapolation).

Masnick’s story is here. What follows is the original post.

“It’s no secret that LimeWire was once a hotbed of peer-to-peer music piracy, but the RIAA has now attempted to sue it for $72 trillion – more money than exists in the world today. LimeWire was shut down in October 2010, but litigation continues from music bodies around the world…” [Ultimate Guitar]