Lime Group, the parent company of P2P file-sharing software LimeWire is scrambling to stay in business after a U.S District judge ruled that the company was guilty of copyright infringement. U.S. District Judge Kimba Wood, for the Southern District of New York, in her ruling argued that "The evidence demonstrates that [Lime Wire] optimized LimeWire's features to ensure that users can download digital recordings, the majority of which are protected by copyright," Wood said in her 59-page decision. "And that [Lime Wire] assisted users in committing infringement."

Read the full story here