Online video sharing site Veoh is going out of business. The AllThingsD blog says it cut the entire staff yesterday and a bankruptcy filing is expected soon.

So far no word on exactly what happened, but one of Veoh's boardmembers, Todd Dagres, tweeted the following today:

"Veoh is dead. Universal Music lawsuit was the main killer. Veoh won resoundingly but was mortally wounded by the senseless suit."

That suit he's referring is one where UMG alleged Veoh knew of and actively encouraged users to upload videos containing copyrighted music. Veoh ultimately won the suit after a judge dismissed it in a summary judgment ruling in September. UMG was planning an appeal of that ruling.

However it's unlikely the lawsuit was the sole contributor to the company's demise. It's long has problems monetizing the site resulting in a massive round of layoffs last year that reduced the size of the company by a third. It had been seeking a buyer, but the lawsuit served to frighten away most investors, and the pending appeal didn't help.

And Universal wasn't the first to bring suit against the company. In 2006, adult entertainment production firm Io Group filed a similar copyright infringement case against the service. Veoh also won that case, but ultimately stopped allowing users to post adult content.
As of now, the Veoh site is live and running. Company representatives did not immediately return requests for comment.