CFIT settles with VeriSign for $0.
Hopes by domainers that .com prices would fall thanks to an antitrust lawsuit have officially been dashed.
VeriSign just released a press release stating that Coalition for ICANN Transparency has agreed to drop a case against it.
The lawsuit attacked both VeriSign’s no-bid contract with ICANN that allowed it to raise prices 7% a year as well as its planned domain waitlisting service.
Although ultimately CFIT lost, I suspect their biggest concern was not the rising cost of dot coms but the waitlist service. CFIT was backed by Pool.com, which was one of the biggest domain backordering services when the case was originally filed. VeriSign’s proposed service would have effectively killed its business dropcatching .com domains.
VeriSign’s stock price has reacted strongly to developments in this case in the past. This announcement was released after the bell and the stock has not changed in after hours trading.