"WELLINGTON, New Zealand (AP) — With 150 million registered users, about 50 million hits daily and endorsements from music superstars, Megaupload.com was among the world’s biggest file-sharing sites...Though the company is based in Hong Kong and Dotcom was living in New Zealand, some of the alleged pirated content was hosted on leased servers in Virginia, and that was enough for U.S. prosecutors to act. (MORE: Feds Shut Down Megaupload.com File-Sharing Website) The site was shut down Thursday, and Dotcom and three Megaupload employees were arrested in New Zealand on U.S. accusations that they facilitated millions of illegal downloads of films, music and other content, costing copyright holders at least $500 million in lost revenue." - Lit

Megaupload Sues Universal Music Group over Illegal Takedown Read more: http://techland.time.com/2011... - Lit