Verkkokauppa.com Oyj has in the Finnish Supreme Court lost the dispute to Teosto ry, which has been ongoing since 2007, on selling fully owned subsidiary Arctecho Oüs products with levies for private copying to Finland.
Teosto demanded compensation for 3.5 million EUR, with a penalty interest of 0,9 million euros it totals to a 4.4 million EUR payout jointly with Arctecho Oü.
The compensation is based on the Copyright Act and the Copyright Directive. It is a credit copyright for holders whose works are copied for private use.
“We are certainly very disappointed with the decision and at this point the
process is over. The cash position and financial balance of Verkkokauppa.com
remain strong even after paying out the compensation and this will not affect
the companys business. The loss is a pity and we think the decision is
unfair,” Samuli Seppälä, CEO of Verkkokauppa.com Oyj comments the dispute.