What killed JuicyCampus.com?

I saw in the UW student newspaper that "The popular college gossip site JuicyCampus.com will come to an end Thursday because of its inability to support itself financially." The company says: "In these historically difficult economic times, online ad revenue has plummeted and venture capital funding has dissolved." Times are tough on line. I'd like some ads too. (Or help me and stimulate the economy by buying this spiffy new Nikon (using that link).)

But there was more going on with JuicyCampus now, I seem to remember. Here's Fox News:

A Web site that publishes anonymous, sometimes malicious gossip about college students has agreed to cease operations....

The shutdown comes nearly a year after New Jersey authorities subpoenaed the company as part of a probe to determine if the site was failing to comply with rules requiring users to agree not to post abusive or obscene content.

The site's operator, which denied any wrongdoing, was also facing a federal lawsuit filed by a University of Delaware student from New Jersey, who wanted to find out who was responsible for posting gossip about her on the site.

You don't need to win a lawsuit to defeat your antagonist.