Here is the email, verbatim:
The Lala service will be shut down on May 31st.
In appreciation of your support over the last five years, you will receive a credit in the amount of your Lala web song purchases for use on Apple’s iTunes Store. If you purchased and downloaded mp3 songs from Lala, those songs will continue to play as part of your local music library.
Remaining wallet balances and unredeemed gift cards will be converted to iTunes Store credit (or can be refunded upon request). Gift cards can be redeemed on Lala until May 31st.
Click here or visit Lala.com/support for more information, or to view Lala’s Terms of Service.
Lala’s website currently states: Lala is shutting down. The Lala service will be shut down on May 31st, 2010. Unfortunately, we are no longer accepting new users. Members, you can still use Lala through May 31st, 2010.
[Thanks to MacDailyNews Readers “Michael R.” and ” Lava_Head_UK” for the first heads up.]