It could be a false flag by the AV as is many times. Whats the file and where was it downloaded from?
If a file is really infected, you need to get rid of it simply.
As Kalim said, if the .exe is infected (and coming from a P2P source such as Morpheus, it more than likely is), you're best served deleting it from your system, and then running a full system scan with AV and Anti-Spyware utilties to make sure no other crappies have been dropped.
A forum community dedicated to tech experts and enthusiasts. Come join the discussion about articles, computer security, Mac, Microsoft, Linux, hardware, networking, gaming, reviews, accessories, and more!