The judge awarded the MPAA  $30,000 in statutory damages for each of the 3,700 files in the latter’s complaint. After all, the Copyright Act does allow this sum to be awarded. It is the maximum sum, but never mind that:

"…the copyright owner may elect, at any time before final judgment is rendered, to recover, instead of actual damages and profits, an award of statutory damages for all infringements involved in the action, with respect to any one work, for which any one infringer is liable individually, or for which any two or more infringers are liable jointly and severally, in a sum of not less than $750 or more than $30,000 as the court considers just."

As expected, the MPAA was quick to come out with a statement:

"This substantial money judgment sends a strong message about the illegality of these sites," said Dan Glickman, Chairman and CEO of the MPAA. "The demise of TorrentSpy is a clear victory for the studios and demonstrates that such pirate sites will not be allowed to continue to operate without facing relentless litigation by copyright holders."

All in all, TorrentSpy got off a bit easier than KaZaA creators. Sharman Networks had to settle with  the MPAA, RIAA, and IFPI for $115 million.