The lawsuit is not over ripping of CD's, rather he was sharing them.
However, as noted above by others, the RIAA spokespeople have
made comments that ripping songs from a CD you purchase is
like stealing to them.
Also, the
Motley Fool jumps in about record companies. "Investor, beware."
From what I've read, the numbers seem realisitic.
Here's another site if you want to work out the math.
Here's
Courtney Love on recording contracts.
ers