Washington - The Federal Trade Commission (FTC) has announced that one of the operators of BurnLounge, a digital music distribution service the agency had determined was actually a pyramid scheme, has settled charges and agreed to give up $20,000 in ill-gotten gains.

New York - Digital music store provider BurnLounge announced on Thursday that it has come to a cooperative agreement with the Federal Trade Commission (FTC), which several weeks ago branded the company's business model a pyramid scheme.

New York - Digital music store technology provider BurnLounge, which last week was branded a pyramid scheme in a complaint filed by the Federal Trade Commission (FTC), announced on Thursday a "simplification of its business model" to address the FTC's concerns.

New York - BurnLounge, a service that lets fans create their own music stores that the Federal Trade Commission (FTC) last week branded a pyramid scheme and is seeking to shut down, announced on Monday that CEO Alex Arnold has resigned.

Washington - The Federal Trade Commission (FTC) has filed a complaint in a California federal court against BurnLounge, alleging the digital music store is in fact an illegal pyramid scheme.

Los Angeles - BurnLounge, a service that lets fans create their own digital music stores for their favorite artists, said on Tuesday that it will make its entire licensed catalog available for purchase in the MP3 format, including tracks from partners The Orchard and IODA. The company also launched a new version of its software that includes BurnPages, a free social networking service.