One of the leading file sharing companies, Grokster, shut down today following a settlement with the recording industry that has ended years of battling copyright infringement lawsuits in the U.S. Supreme Court. 

The company's web site posted a terse announcement: "The United States Supreme Court unanimously confirmed that using this service to trade copyrighted material is illegal. Copying copyrighted motion picture and music files using unauthorized peer-to-peer services is illegal and is prosecuted by copyright owners.

"There are legal services for downloading music and movies. This service is not one of them."

However, the company promises that the safe, secure and legal P2P Grokster3G will be coming soon!