Lawsuit was filed over plans for .bim top level domain, which never got off the ground.
A group of investors in a failed top level domain bid have dropped their lawsuit against Famous Four Media, Domain Venture Partners, and some of the company’s principals.
David Ways and a handful of his friends and family said they paid nearly $123,000 to the defendants to get the .bim top level domain name off the ground. Ways alleged that he was promised that he would become a full time employee of DotBIM LLP. As CEO of the company, he would have an annual compensation of $100,000 plus bonuses.
The plaintiffs alleged that the defendants never performed any of the tasks they agreed to.
No one applied for the .bim domain name.
The suit was dismissed with prejudice, meaning it can’t be filed again. A joint stipulation of dismissal states that both parties will pay their own legal fees and expenses.
“Domain Venture Partners is pleased that this claim has been dismissed,” Iain Roache, chairman of Domain Venture Partners, said in a brief statement.
When contacted by Domain Name Wire, Ways had no comment.