TorrentSpy bit the dust only weeks ago, shuttering its peer-to-peer file-sharing site. Now a federal judge has ordered the company to pay the Motion Picture Association of America $110 million (56 million pounds) for infringement of thousands of copyrighted film and TV shows.
In a four-page final ruling issued Wednesday, U.S. District Court Judge Florence-Marie Cooper entered the multimillion-dollar judgment against TorrentSpy parent company Valence Media for wilfully inducing, contributing and vicariously allowing copyright infringement on its Web site.
Not fmaialair with the company so I won't comment on them specifically, however I think you really need to look at the big picture. This is just the continuation of the RIAA's and MPAA's assualt over the last few decades on any technology that can be deemed a threat to their cash flow. This lawsuit may have been justified but I really don't know, the issue is any legitimate use of technologies like this is going to come under fire too.
Have you ever seen a portable CD recorder? It's not because they don't make them, its because there is a tax on them making them expensive. Plus they only accept the more expensive CD's labeled as audio also with a special tax.
I hardly doubt they have the money to pay that fine. There are actually not many .com companies that have that kind of money. You could make $1,000 a day from adsense and whatever and you still would never see that kind of money.