Class Action Lawsuit Filed Against Domain Name Provider

Lawsuit Alleges that Domain Name Provider Used Shill Bidders to Manipulate
Auctions; may be Tip of the Iceberg in Domain Name Industry.

MIAMI, Nov. 9 /PRNewswire/ -- 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.

According to the class action complaint, a former vice-president of
SnapNames.Com secretly bid on tens of thousands of domain name auctions over
the past four years, driving up costs for other bidders. It is alleged that
the company executive set up an account on the Defendants' system under a
false name and, under the name, bid in online domain auctions run by
SnapNames.Com, Inc. and Oversee.Net. As a result of the internal employee
bidding, the suit alleges the prices to purchase a domain name were falsely
inflated, leading to higher costs to buyers and greater profit for the
defendants.

The class action lawsuit, brought by the Cueto Law Group law firm, is the
first nationwide to allege that a domain name provider used a shill bidder to
manipulate auctions. "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.

"Domain names are the last frontier for the average person to stake their
claim on some very valuable property. The Defendants' conduct has made it
harder for people to do so and we intend to put a stop to this practice, which
we perceive as being a major concern in the industry," added attorney Santiago
A. Cueto.

About: Cueto Law Group, P.L. By combining sophisticated legal representation
with the efficiency, focus and personal service of a boutique firm, Cueto Law
Group has become the firm of choice for class action and complex international
litigation, arbitration and transaction matters. You can learn more about
Cueto Law Group by visiting the firm's website at www.CuetoLawGroup.com and
blog at www.IntlBusinessLaw.com.

For More Information contact:
Santiago A. Cueto, Esq. Cueto Law Group, P.L.
Tel. 305-777-0377
Email: sc@CuetoLawGroup.com
Web: www.CuetoLawGroup.com
Blog: www.IntlBusinessLaw.com

SOURCE Cueto Law Group, P.L.

Santiago A. Cueto, Esq. Cueto Law Group, P.L., +1-305-777-0377, or
sc@CuetoLawGroup.com