Grooveshark has been under siege for their, er, flexible interpretations of copyright when it comes to music. Now faced with a three-quarters of a billion dollar lawsuit launched by Universal, the company has decided it would be in their best interests to turn into shark fin soup.
Under the terms of this settlement, Grooveshark has agreed to “wip[e] its servers of all the record companies’ music, and surrendering ownership of its website, mobile apps and intellectual property.” Furthermore, “”Grooveshark founders Josh Greenberg and Sam Tarantino admit to creating and operating an infringing music service.”
If you go to the company’s home page, you’ll see this:
That’s a properly complete capitulation and surrender, innit? Makes the Treaty of Versailles look like sentencing the Kaiser to stand in the corner to think about what he did. You can read more at Billboard.