APNewsBreak: Feds shut down file-sharing website

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McLEAN, Va. (AP) -- Federal prosecutors in Virginia have shut down one of the world's largest file-sharing sites, Megaupload.com, and charged its founder and others with violating piracy laws.

The indictment accuses the company of costing copyright holders more than $500 million in lost revenue from pirated films and other content. The indictment was unsealed Thursday, one day after websites shut down in protest of two congressional proposals intended to thwart the online piracy of copyrighted movies and TV programs.

Megaupload.com has claimed it is diligent in responding to complaints about pirated material.

The indictment says at one point, Megaupload was the 13th most popular website in the world.