Reglikedomain industry desk

Inside the SnapNames Lawsuit — A Peek

Lawyer filed claim on behalf of brother.

Earlier today I talked to Santiago A. Cueto, the first lawyer to file a lawsuit against SnapNames for the insider bidding scandal.

He was quick to the docket since lead plaintiff Carlos A. Cueto is his brother. While other firms were trying to find a lead plaintiff, Santiago’s brother was emailing him the details.

This is an interesting case since SnapNames has by now admitted wrong doing and offered to compensate victims.

“That’s not going to cut it,” stated S. Cueto. “We want to clean up the industry.”

Both brothers think insider bidding is pervasive in the industry, and they may expand their investigation to other firms as well.

The lawsuit was filed in the Cuetos’ home state of Florida, which Santiago notes has strong consumer protection laws. The lawsuit, available for viewing here (pdf), charges SnapNames with violating the Florida Deceptive and Unfair Trade Practices Act and and Unjust Enrichment. The lawsuit requests damages but does not name an amount.

Also on the wire

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