Monte Cahn Updates Lawsuit Against Oversee.net with Fresh Details

Cahn claims firm deliberately shifted Moniker’s revenue to other Oversee.net entities.

Monte Cahn has filed an amended complaint (pdf) against Oversee.net following a judge tossed out many of his original claims against his former employer.

The amended complaint includes fresh details regarding how Oversee.net allegedly affected Moniker’s revenues following the buyout.

First, Cahn explains that the buyout violated Oversee.net’s advertising agreement with Google since of Moniker’s TrafficClub service. This forced Oversee.net to shut down TrafficClub upon the buyout.

Second, Cahn claims that Moniker was Oversee.net subsidiary SnapName’s second best performing registrar at the time or the buyout. Moniker received 70% or 80% of revenue SnapNames made selling domains from Moniker, or regarding $700,000 annually, as stated by the complaint.

But when Network Solutions ended its agreement with SnapNames, Cahn states Oversee.net used the Moniker revenue share payments to obscure the revenue impact:

In order to disguise and prevent the Oversee Board and others from recognizing the disastrous effect of the departure of Network Solutions, following the merger, Oversee improperly diverted Moniker’s registrar revenue to SnapNames, thereby artificially deflating Moniker’s EBITDA.

Cahn still claims Fraud in addition to breach of contract claims.