LulzSec has disbanded.  However, according to LulzSec and fellow hacking group Anonymous, the event was merely a cosmetic change of identity.

 We are not tied to this [LulzSec] identity permanently, said the group of six.  So after 50 days of operation (and threats from hacking group TeaMp0isoN), it shed that identity.

The group members, however, remain committed to their Operation Anti-Security mission.

Here are some of the claims made by @AnonymousIRC, which identified itself as an observer who reports current events on Anonymous and the hacking community:

- All LulzSec members are accounted for (meaning they haven't been arrested or gone into hiding)

- LulzSec's website, along with its leaked data, remains online.

- LulzSec spawned from Anonymous, a decentralized hacking collective.  Now, its members have returned to this collective.

- LulzSec members plan to carry out Operation Anti-Security mission under the #AntiSec movement/banner.

What are the goals of #AntiSec (Operation Anti-Security)?

One is to open fire (i.e. hack) any and all governments and agencies that oppose the movement.  The priority, however, is to steal and leak classified government data.   

The end goal is to create (force) transparent governments around the world and keep the Internet free, according to @AnonymousIRC.

As important as the end goal is the nature of #AntiSec.  Both LulzSec and Anonymous are shaping it to be an amorphous, decentralized, and widespread movement that more resembles an ideology rather than a group.

On its parting message, LulzSec said: we hope, wish, even beg, that the [#AntiSec] movement manifests itself into a revolution that can continue on without us.