Limewire, the famous file-sharing company software has settled out with the record label companies that sued them after they where alleged of helping people to pirate music.
The Limewire system which was developed by Limewire group had agreed to pay those 13 music firms that sued them amounting to $105 Million.
According to the Recording Industry (–foul word(s) removed–)ociation of America, the amount that Limewrie payed to the music firms for the damage they had caused is far from the figure they have calculated which is about a Billion Dollar.
Due to the prolonged legal fight, Limewire has decided to shutdown.
Representative of record labels and chairman of the RIAA, Mitch Bainwol expressed his happiness to the result of the case.
According to Mr. Bainwol this victory is something to celebrate especially by the entire music community, its fans and the legal services that play by the rules.
Limewire was a peer to peer technology program developed by Lime wire group that help people find media on other computers and let others see their libraries of files.
It was in the year 2006 when RIAA first made a legal action against Limewire after concluding a $115m settlement with peer-to-peer software maker Kazaa.
Limewire and its creator Mark Gorton where ruled by the judge who is overseeing the case in May 2010 accusing them of breaking the rule of copyright and help out other people to download pirated music.
In October 2010, another court ruling was done that led to the effective closure of Limewire after it was banned from letting people to search, download, upload or trade files using the program.
An official updated version of the program has been distributed that stops people using Limewire to swap files in this way.
However, a pirate edition has been produced that leaves those services intact.