Monte Cahn settles lawsuit against Oversee.net
Tuesday, August 21st, 2012
Long legal battle between Moniker founder and Oversee.net is over.
Moniker.com founder Monte Cahn has dismissed his lawsuit against Oversee.net regarding money he said he was owed under a bonus plan.
Cahn joined Oversee.net after Seevast sold Moniker to Oversee.net. Cahn left Oversee at the end of 2010. In May 2011 he filed a lawsuit against the company arguing he was due part of a $13 million bonus plan.
Having read many of the documents and examinations filed with the court, I can say this was a particularly unsettling legal battle for both parties. There was certainly ill-will between Cahn and some of Oversee.net’s former staff.
Yet a lot has changed since the lawsuit was filed. Oversee.net CEO Jeff Kupietzky left the company in August 2011, and Oversee.net sold Moniker earlier this year.
387 documents were filed since the case was initiated. There was already an initial trial on one issue, which the judge ruled in favor of Oversee.net.
Here’s the statement of dismissal:
VOLUNTARY DISMISSAL WITH PREJUDICE
Pursuant to a settlement agreement between the parties and Rule 41(a)(1) of the Federal Rules of Civil Procedure, Plaintiff Monte Cahn and Defendants Oversee.net, Jeffrey Kupietzky, and Lawrence Ng, through their respective undersigned counsel of record, hereby stipulate to the voluntary dismissal of this Action in its entirety against all defendants with prejudice. Each party shall bear its own attorneys’ fees, costs, and expenses.
Details of the settlement were not disclosed. I’ve reached out to both sides for comment.