Bearshare developer will settle with RIAA and close
Free Peers, developer of bearshare, agreed to settle with RIAA. BearShare operated on the Gnutella P2P network. As part of the settlement:
> BearShare will pay RIAA $30 million US.
> Free Peers will shut down its business
> BearShare technology, domain, and users will be sold to a subsidiary of iMesh for an unspecified amount. iMesh was the first major P2P developer to settle with RIAA for $4.1 million in 2004 and relaunched as an authorized and filtered service in 2005.
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