The proposed agreement, filed in court last month, would allow Mobile Fidelity Sound Lab customers to receive a full refund for any eligible records that they purchased. Alternatively, it would also allow them to keep their albums and instead take a 5% cash refund or a 10% refund in credit.
The proposed settlement, filed on January 15th in the lawsuit filed by Tuttle & Collman, is expected to cover at least 40,000 customers who purchased records marketed as “analog”. The “total gross value” of the refunds and credits available to consumers is over $25 million, according to the agreement. The lawyers who filed the case will be paid $290,000.
The deal, not yet finalized, is facing objections from attorneys who filed similar lawsuits against Mobile Fidelity Sound Lab. They say the settlement was struck without their input, by “ineffectual” lawyers who took a bad deal.
The fact that Mobile Fidelity was making vinyl records that weren’t fully analog was first revealed by Mike at The In Groove.