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.Biz Managers Make $1.2 Million Settlement
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Posted by: TotalRecall
WASHINGTON (Reuters) - Managers of the ".biz" Internet domain have agreed to pay roughly $1.2 million to settle charges that their system for handing out hot names like "www.show.biz" amounted to an illegal lottery.
The agreement, approved Dec. 13 but made public last weekend, marks the end of a rocky legal road that domain manager NeuLevel Inc. has traveled since launching one of the first alternatives to established domains like ".com" last year.
The lion's share of the settlement will go to cover attorneys' fees, as NeuLevel has already sent millions of refunds to customers who paid an average of $5 for a chance to win control of desirable names like "computer.biz" when the new domain was opened to the public.
Read more: Reuters.
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