Don't worry about it, if it's even true.
Downloading the item isn't something you'd get in trouble for - it's sharing it.
Besides, just because they claim to sue for $50k doesn't mean you will owe that amount. Most likely it'll get tossed out.
They have to also prove that you actually downloaded it.
If I were you, I'd go out and buy a wireless router. Leave it open and unsecured. Claim it wasn't you, that someone got into your network.
They also have to take your computer and inspect it to prove you downloaded it. IP address alone doesn't prove jack shit. You can't just randomly sue someone for $50k because you feel like it.
If you do all of the above, there's no way they can prove it was you and you have not a single thing to worry about.
There's so many ways to get out of this type of thing