.XYZ Gets Legal Win Over Verisign

Los Angeles-based .XYZ, which is led by Daniel Negari, said this week that it has defeated Verisign in a lawsuit, where Verisign had alleged that XYZ had lied about its registration numbers and growth, and for its statements about the difficulty of finding .com domain names. XYZ said it was granted a summary judgement in the lawsuit, which it claimed as an effort by Verisign to "litigate new competition out of business." XYZ also said that the lawsuit was a "coordinated anti-competitive scheme by Verisign to stunt competition and maintain its competitive advantage in the industry." .XYZ's domain extension is an alternative to the more traditional .com and .net domains which are run by Verisign; .XYZ also now owns extensions such as .college and .rent.