Sedo Sued for $10 Million for Failing to Enforce Women.com Transaction with NBC Universal
Tuesday, May 17th, 2011
Domain broker added to suit over failed Women.com transaction.
DONE! Ventures has added domain name broker Sedo to its lawsuit over a failed transaction for Women.com.
DONE! sued NBC Universal last year after it alleged the media giant failed to follow through with a transaction to sell Women.com and Women.net for $1 million. According to the suit, NBC Universal’s CEO at the time Jeff Zucker vetoed the deal after it had been agreed to. Sedo broker Jeff Gabriel managed the deal.
Now, apparently frustrated at lack of support from Sedo to enforce the deal, DONE! founder Ben Padnos has added Sedo to the suit (pdf).
â€œSedo told us we had a deal,â€ Padnos said. â€œThereâ€™s no confusion around â€˜Congratulations, the offer has been acceptedâ€™, as they told me on May 24, 2010.”
However, NBC has argued in court that they never authorized Sedo to bind the transaction. While that may be debatable, it appears Padnos found it necessary to add Sedo to the suit to add some firepower.
Padnos claims in the amended suit that he’s been damaged in excess of $10 million. In addition to asking for at least that much in damages, he still wants the transaction enforced — which was all he asked for in his original suit against NBC.