"This settlement brings to a close an incredibly significant chapter in the story of digital music," Mitch Bainwol, CEO of the RIAA, said in a statement. "This is a chapter that ends on a high note for the recording industry, the tech community and music fans and consumers everywhere." While it is a step toward ending the four year legal case, the lawsuit is by no means over yet.
StreamCast Networks' remains in operation and the company has indicated that it plans to continue fighting the case in lower courts. Grokster's decision might put more pressure on StreamCast to settle however. Grokster is working on, and will offer a legal service soon. "The brand will live on," said attorney Michael Page. "It is shut down, but we look forward to launching a licensed, legal new version of Grokster."
Source:
ZDNet