Supreme Court won't let record companies escape suit

The U.S. Supreme Court has decided that a lawsuit alleging the four largest record companies conspired nearly a decade ago to fix prices of online music sales, can now move forward.

The U.S. Supreme Court has decided that a lawsuit, filed by a group of online music buyers and alleging the four largest record companies conspired nearly a decade ago to fix prices of online music sales, can now move forward.

The high court on Monday declined to hear an appeal by the labels--Universal Music Group (UMG), Sony Music Entertainment, Warner Music Group, and EMI Group--to block the suit, according to reports by . Instead, the court allowed a ruling made by a federal appeals court in New York that the plaintiffs had supplied enough evidence to proceed.

The lawsuit alleged that the record labels agreed to set a wholesale price floor of about 70 cents per song when competitors were offering songs on the Web for less, according to reports from Bloomberg and Reuters.

For more on this story, read Supreme Court won't block antitrust suit against labels on CNET News.