Second Class Action Lawsuit Filed Against Oversee.net and SnapNames
Monday, November 23rd, 2009
Lawsuit claims violation of California law and fraud.
Another lawsuit seeking class action status has been filed against Oversee.net over the SnapNames insider bidding scandal.
Law firm KamberEdelson LLC filed the case on behalf of its lead plaintiff, Stewart Resmer, in U.S. District Court Central District of California on November 18. Resmer, like Oversee.net, is located in Los Angeles.
Among other evidence, the lawsuit cites a now famous January 6, 2008 DNForum posting by a Snapnames employee that denied that bidder halvarez was associated with SnapNames.
It draws a parallel of SnapNames’ actions to a bank bidding on its own properties in a foreclosure auction”
halvarez bid in approximately 50,000 auctions or more from 2005 through 2009, thereby artificially raising the sale prices in these auctions and causing the bidders to spend thousands, if not millions of extra dollars. This is analogous to the bank that owns foreclosed homes secretly bidding in its own auctions to artificially increase the final amount paid by the winning bidder.
The complaint alleges Oversee committed a number of violations:
-Violation of California Auction Law
-Violations of Cal. Civ. Code 1572, 1573, 1709, & 1710 (having to do with deceit and fraud)
-Violation of Cal. Bus. & Prof. Code 17200 (California’s Unfair Competition Law)
-Breach of Fiduciary Duty
-Fraudulent Concealment
-Restitution/Unjust Enrichment
In addition to payment for direct damages and legal fees, the suit seeks to “Disgorge Defendants of all revenue earned from SnapNames.com Internet domain name auctions during the Class period”.
A previous lawsuit was filed by another firm in a Florida circuit court.
A copy of the lawsuit is available here.
Related posts:
- First Class Action Lawsuit Filed Against SnapNames
- Oversee.net Asks Court to Dismiss SnapNames Lawsuit
- Judge Says SnapNames Lawsuit Might be Too Small for Class Action
Tags: lawsuit, Oversee.net, SnapNames
RT @DomainNameWire: #domains Second Class Action Lawsuit Filed Against Oversee.net and SnapNames http://bit.ly/8IHJ9Y
Second Class Action Lawsuit Filed Against Oversee.net and SnapNames – http://tinyurl.com/yzsfu3d
Shocked-shocked !http://www.youtube.com/watch?v=-Gf8NK1WAOc
“Disgorge Defendants of all revenue earned from SnapNames.com Internet domain name auctions during the Class period”
ALL revenue during the four or five years? Yikes!
Net profit maybe but all revenue? Doesn’t make sense but the lawsuit is claiming that many laws were violated.
Looks pretty serious and NOT GOOD for Snapnames.
Too bad Snap can’t/won’t comment on ANYTHING.
Are bids against the wall illegal in th US? In the UK it is perfectly legal for an auctioneer to “bid against the wall” if there is only one bidder for a property. It is legal, as it allows the auctioner theoretically reach the bidders maximum threshold. Of course, it can also backfire on the auctioneer. Now, is it morally ok?
That’s for others to decide,
This suit is better thought out than the Florida suit and is in the right court. Florida plaintiff should have filed in Federal Court, so although it was filed first, my guess is that THE class action suit will be in California.
In this case, the “auctioneer” knew the “bidders maximum threshold” so there was no chance of it backfiring.
If snap doesn’t send out the checks ASAP I might join one of these lawsuits.
get your rebate checks asap!!!!
I think I’m going to sue the lawyers who are filing these class actions against Snapnames/Oversee.
Why?
Because the lawyers will probably be the only ones who’ll end up with any significant amount of OUR cash when this is all over! LOL
Finally.
This is the law suit that says it all.
Hi folks,
I’m still collecting domain industry scandal stories for my blog article. If you have a story or opinion about an unethical dealing with any domain industry person or company, I’m putting together a comprehensive report on it. I’ve received ots of incredible stories I’ve forgotten about.
If you’re complaining here about Snap, then you’ve got a story to tell, whether it’s about Snap or any other perceived scandal. This article will put all the domain industry “scandals” into perspective in how this industry has policed itself, and grown from it, in the last 10 years.
Comment on my blog http://www.successclick.com or reach me at my email address: successclick [at] gmail
Thx for your participation.
pppssssssttttt?
wanna buy a really hot domain name cheap?
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[...] and Snapnames have filed a motion to dismiss a lawsuit filed against it in wake of the SnapNames insider bidding [...]