24/7 Media Inc. Unit Brings Countersuit Against DoubleClick Inc. Alleging Antitrust Violation.Business Editors NEW YORK--(BUSINESS WIRE)--May 18, 2000 24/7 Media Inc. (Nasdaq:TFSM), one of the largest global Internet media and technology companies, announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Sabela Media Inc., filed a countersuit coun·ter·sue tr.v. coun·ter·sued, coun·ter·su·ing, coun·ter·sues Law To bring proceedings against (a plaintiff) in direct opposition to a suit brought against onself. today in the U.S. District Court for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of against DoubleClick Inc. The countersuit alleges, among other things, that DoubleClick violated the federal antitrust laws antitrust laws n. acts adopted by Congress to outlaw or restrict business practices considered to be monopolistic or which restrain interstate commerce. The Sherman Antitrust Act of 1890 declared illegal "every contract, combination.... by failing to disclose material information to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Patent Office in connection with obtaining issuance of U.S. Patent No. 5,948,061, and then asserting this patent against Sabela in an anti-competitive manner. The countersuit is part of a pending case DoubleClick brought against Sabela Media Inc. in December involving DoubleClick's patent. "We expect to prove that DoubleClick withheld critical information from the United States Patent Office, knew that its patent was invalid at the time it brought suit against Sabela, and used its patent in an anti-competitive manner, to the detriment of competition on the Internet," said James Green James Green may refer to:
24/7 Media has requested injunctive relief injunctive relief n. a court-ordered act or prohibition against an act or condition which has been requested, and sometimes granted, in a petition to the court for an injunction. barring DoubleClick from engaging in further anti-competitive conduct, and is also seeking monetary damages, including punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. . Also pending in the U.S. District Court for the Southern District of New York is a lawsuit filed by 24/7 Media on May 5, 2000, alleging that DoubleClick's DART ad serving system infringes 24/7 Media's U.S. Patent No. 6,026,368, entitled "On-Line Interactive System and Method for Providing Content and Advertising Information to a Targeted Set of Viewers." About 24/7 Media 24/7 Media is a leading global provider of end-to-end interactive technology and marketing solutions and services for Web publishers, online advertisers, advertising agencies, e-marketers and e-commerce merchants. 24/7 Media provides a comprehensive suite of media and technology products and services that enable these client groups to attract and retain customers worldwide, and to reap the benefits of interactive and other electronic media. The company's solutions include advertising and direct marketing sales, ad serving, promotions, email list management, email list brokerage, email delivery, data analysis, loyalty marketing and convergence solutions, all delivered from its industry-leading data and technology platforms. The company's 24/7 Connect ad serving technology solutions are designed specifically for the demands and needs of advertisers and agencies, Web publishers and e-commerce merchants. Based in New York, 24/7 Media has offices in 50 cities in 27 countries. For more information, visit www.247media.com. |
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