The popular peer-to-peer file sharing service, Grokster, shut down Monday to settle its piracy suit brought by Hollywood and the RIAA. Grokster's web site was updated to display a message informing its users that its file sharing service was illegal and no longer available. The Grokster brand will go the way of Napster transitioning into a fee-based version of its software that will be available within 60 days. The decision is said not to affect those already running the software.

Source: Yahoo News