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SnapNames Faces Lawsuit; Attorney Says Domain Industry Is the Wild West Because It Is Unregulated

A class action lawsuit was filed today in Miami-Dade County Circuit Court on behalf of lead Plaintiff Carlos A. Cueto and others who participated in online auctions for domain names. In the lawsuit, Mr. Cueto alleges that an executive of the company conducting the auctions acted as a shill bidder to manipulate bids. The domain names were auctioned online by Oversee.Net, Inc. subsidiary SnapNames.Com, Inc.

"The domain name industry is the wild west of intellectual property because it remains unregulated. The online community has been up in arms over what they feel has been an opaque system that just begs for transparency. It is impossible to know whether you are bidding against someone that isn't working or affiliated with the company conducting the auction," said attorney Santiago A. Cueto.

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