NEW YORK (CNN/Money) - Napster is without a leader and may not be looking for another.

Napster, the once-dominant online file-swapping service that was forced to change to a traditional music download format in the face of court orders and piracy lawsuits, said Tuesday its CEO Konrad Hilbers has resigned.

A person familiar with the matter told CNNfn it is unclear whether a successor will be named and also said it is unknown whether Napster will file for bankruptcy protection in the coming days.

"We deeply regret that we have not yet been able to find a funding solution that would allow Napster to launch a service to benefit artists and consumers alike," the company said in a statement. "We will be looking at additional steps in the coming week to further reduce expenses."

Napster has been offline since Dec. 14, testing a new version of its software.

The company agreed last March to comply with a court order to remove all copyrighted material from its file-sharing service and began the long process of trying to settle litigation with the recording industry to keep its service alive.

In April, German media company Bertelsmann, which has sunk more than $80 million into Napster since October 2000, reportedly offered to buy the service for $15 million.