SOURCE: Giganews

Giganews

March 06, 2017 15:00 ET

District Court Grants Giganews Motion to Appoint Receiver for Perfect 10

Receiver to Liquidate Perfect 10, Inc.'s Intellectual Property Holdings

AUSTIN, TX--(Marketwired - March 06, 2017) - Giganews (https://www.giganews.com), the world's premier Usenet access provider, announced today that the United States District Court for the Central District of California has granted Giganews' motion to appoint a receiver to carry out a levy on all of Perfect 10's intellectual property. The intellectual property includes but is not limited to all domain names, copyrights and trademarks of Perfect 10. The receiver will now begin the process of liquidating the intellectual property. Any proceeds from the sale of the intellectual property will be used to partially satisfy Giganews' $5.6 million attorney's fees judgment against Perfect 10 that was awarded by the same District Court in 2015. This judgment was awarded as part of Giganews' long running litigation with the serial copyright litigant Perfect 10, which originally filed suit against Giganews in April 2011. Giganews won victory after victory over the course of the case, prevailing on every claim and obtaining the attorney's fees award, culminating in a unanimous victory before the United States Court of Appeals for the Ninth Circuit in January 2017. That ruling upheld early rulings of three separate federal judges in favor of Giganews.

"We are determined to collect 100% of what is owed to us by Perfect 10 from this cowardly and frivolous lawsuit," said Ron Yokubaitis CEO and Co-Founder of Giganews. "This is a big win for Usenet and for user platforms over the entire open Internet. This ruling will now put a copyright troll out of business and free up the courts from baseless lawsuits."

Any parties that are interested in purchasing any of the intellectual property can contact the receiver David Pasternak (djp@paslaw.com), or Giganews' litigation counsel Andrew Bridges (abridges@fenwick.com) with Fenwick & West.

About Giganews

Giganews, the world's largest and most trusted Usenet provider for more than a decade, offers unparalleled newsgroup access through a proprietary, scalable platform designed to maximize speed and reliability. Giganews serves individuals, as well as the largest Internet service providers, telecommunications companies, and multi-service providers in more than 200 countries, making it the top Usenet aggregation point in the world. More articles pass through Giganews on a daily basis than any other provider. In addition, the Giganews Newsgroups Archive hosts more than 12 billion articles requiring several petabytes (PB) of storage. Learn more about Giganews at http://www.giganews.com.

Giganews is a trademark of Giganews, Inc. All other trademarks mentioned in this document are the property of their respective owners.

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