In 2006, the music industry filed a suit against the service for a "massive scale of infringement" on their copyrights, and they've finally won. A federal court in New York issued a permanent injunction against LimeWire, meaning the service will have to close its doors immediately while it waits for a court date to decide damages.
The service may resurrect itself at some point in the future. A spokesperson for the company stated it will be "working with the music industry," so there may still be hope for LimeWire. Granted, that's pretty far-fetched, but let's not forget that Napster, which was essentially the same service, did manage to reinvent itself. It's not utterly impossible for the service to come back, just highly unlikely.
Even in the darkest times, however, hope still remains. Earlier this year LimeWire planned to release a legitimate service called Spoon, but the deal fell through because it was estimated that at least a year turnaround would be required to get pirates on board. A year doesn't seem like that long of a time now.
As the RIAA tends to do, it threw out some big numbers during the LimeWire case, stating that the service had cost the music industry hundreds of
thousands millions of dollars in revenue. The actual award won't be decided until January, when a trial will determine the level of damages, but we're going to go out on a limb and guess the RIAA won't get nearly as much as it has spent over the years.
We didn't realize anyone outside of a college campus was still using LimeWire, but apparently, it was rated the number-one peer-to-peer service in 2009 by the NPD.