I don't fully understand...
A hyperlink is purely a direction towards material. How can hyperlinking to content which is in violation of copyright itself be a violation of copyright?
Take this to another level. I learn of a guy in the local market who is selling dodgy DVD copies of a particular film. While at the pub, I hear someone saying they are looking for that film, and I tell him about the guy in the market. Am I violating copyright?
Personally, I would say no. I have just given someone information about where to find something they were looking for. If that person chooses to buy said DVD, he and the seller would be violating IP law, but I do not believe I should be held responsible for that violation.