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From Kotaku:

Staff were informed of the shutdown this morning, according to a reliable Kotaku source. Some 150 people were laid off, and both of the studio's current projects—Star Wars: First Assault and Star Wars 1313—were cancelled. Disney will still use the LucasArts name to license games, but the studio is no more.

TIE Fighter and Star Wars: Dark Forces were probably the first 2 'proper' computer games I ever played. The sequel, Jedi Knight is probably still one of my favourite computer games of all time. The story, even the music was like a whole extra film and certainly was more, in my mind, the spirit of Star Wars than The Phantom Menace, released years later.

And, I'm sure Guybrush Threepwood, Sam and Max will want their own salutes as well!

http://www.dakkadakka.com/dakkaforum/posts/list/518229.page#5462524