The first class action lawsuit against SnapNames was recently filed in Miami-Dade County Circuit Court .
The lawsuit was filed on behalf of lead Plaintiff Carlos A. Cueto and many others who also participated in auctions for domain names.
As you all know , Nelson Brady,former vice-president of SnapNames, used an account under a false name to use it in SnapNames auctions,the bidding affecting 5% of all SnapNames domain name auctions in this four years,especially between 2005 and 2007.
SnapNames assured the customers that they doing their best to make sure this kind of problems will not occur anymore.They will enhance monitoring of bidding activity for suspect behavior and they will have different domain name registration policies for their employees.
Attorney Santiago A. Cueto said "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."
He also added : "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."
Even though SnapNames assured the affected customers that they will recoup their loss,it is more than obvious that this will not be the only lawsuit against Snapnames.
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