Limewire’s peer-to-peer software, which was released in 2000, allowed users across the world to share music and other files for free over the internet.
The RIAA first took legal action against Limewire in 2006. This was shortly after concluding a $115m settlement with Kazaa.
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Limewire was closed down in May 2010 after a court ruled that it had infringed copyright and aided others in illegally downloading music.
“This hard fought victory is reason for celebration by the entire music community, its fans and the legal services that play by the rules," said Mitch Bainwol, Chief Executive of the RIAA.
The RIAA believes Limewire caused enormous damage to the music industry and deprived emerging artists of opportunities.
"Designing and operating services to profit from the theft of the world's greatest music comes with a stiff price," said Bainwol.
"The resolution of this case is another milestone in the continuing evolution of online music to a legitimate marketplace that appropriately rewards creators," he added.
