On the positive side, along with other settlements achieved by Merlin, this also lays the groundwork for future negotiations over licensing music from smaller players.
If this settlement and the settlements achieved earlier in the case are approved by the Manhattan federal court, this will bring the total amount recovered for the WorldCom investor class to just over $6 billion, making it by far the largest shareholder class-action recovery in history.
Dick Detwiler, a spokesman for PepsiCo in Purchase, N.Y., said, "We're pleased that the settlement achieved our goal of protecting our trade secrets".
With one major settlement achieved, BP will probably redouble its efforts to reach a deal with the federal government over fines related to the spill.
Even lawyers for the Caribbean countries hint that a negotiated settlement, achieved through public and diplomatic pressure, may be their best hope.
An end to the political standoff that has divided this Indian Ocean island since the disputed December presidential election no longer seems within easy reach, despite what appeared to be a settlement achieved last month.
Such a step would also erode the historic settlement achieved in Ireland in 1998, reflected in the Good Friday agreement and underpinned by a clear commitment by the British government to incorporate the European convention on human rights in Northern Ireland, with direct access to the court and remedies for breach.
In accepting claims for fees by the three firms, the judge, Lewis A. Kaplan of Federal District Court in Manhattan, cut one by 20percentt and refused to grant any of the three a bonus, called a multiplier, for supposedly preparing the way for the large settlement achieved by the firm that eventually led the case.
Particularly bitter is the fact that Northern Ireland's worst-ever single act of terrorism came just months after a political settlement, achieved against the odds and overwhelmingly endorsed by voters on both sides of the Irish border in referendums, was supposed to have ensured peace.
Mark Schonfeld, an SEC director, said: "This settlement achieves everything we sought to accomplish in pursuing this case.
"This settlement achieves our major goals of protecting our members' job security and the health care benefits of both active and retired employees," said Morton Bahr, president of Verizon's largest union, the Communications Workers of America.
