Oversee.net settles with former employee and class action.
SnapNames has resolved two outstanding lawsuits related to its bidding scandal.
First, the company has resolved its claims with former employee Nelson Brady. Brady was the sole employee who drove up bids on SnapNames. The settlement will not be made public, but SnapNames parent company Oversee.net said the “financial penalty is appropriate considering the seriousness of the improper activity.”
I had checked the case docket this morning and there were no new filings; they will likely be added within the next few days.
Second, the company reached a preliminary settlement in Resmer vs. SnapNames.com. This was originally a U.S. District Court case. Facing problems proving the size of the claims, Stewart Resmer later moved the case.
Details on the class action settlement are available here. Both Stewart Resmer and the class action lawyers will receive compensation paid by SnapNames.