Earlier this year, MoFi and the plaintiffs reached a settlement expected to be worth about $25 million that offered customers a few routes to recompense: They could get a full refund for any eligible records they purchased or keep the albums and take either a 5% cash refund or a 10% MoFi credit refund. (The reason some may want to take the partial refund? Despite the audio quality concerns, it’s been noted in court documents that many of these MoFi releases now “have a value on the secondary market that exceeds their original purchase price.”)
the judge overseeing the case rejected all of the intervenors’ arguments. He called the proposed settlement itself “fair, adequate, and reasonable” and said there was no evidence of “reverse auction” collusion with the lawyers who negotiated with MoFi (and that the fees they collected did “not appear to be overly-generous or disproportionate to the relief allocated to the class.”)
