You might recall that iiNet, one of Australia's largest ISPs, was sued by seven Hollywood studios for failing to stop the transfer of pirated content across their network. Company CEO Michael Malone said the industry's demands for iiNet to play traffic cop were unreasonable if not impossible, and that "these guys are asking us to be judge, jury and executioner." After an eight week trial, the Sydney Morning Herald reports that iiNet has won their case against Hollywood, with Justice Dennis Cowdroy finding that iiNet is not liable for the downloading habits of its customers:iiNet apparently spent $4 million on the case, though after the victory the company's shares jumped some eleven percent on the news. Company CEO Michael Malone was of course happy with the result, but makes a good point about how all this time and money could have been spent on better content industry business models:iiNet of course will still be required by law to participate in the Australian government's new multi-million dollar effort to scrub the Internet clean of all its naughty bits, though iiNet has also dubbed that plan technologically impossible and "stupid."