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Quotes & Info
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| INSP > SEC Filings for INSP > Form 8-K on 3-Jul-2008 | All Recent SEC Filings |
3-Jul-2008
Other Events
On July 2, 2008, InfoSpace, Inc., a Delaware corporation ("InfoSpace" or the "Company"), entered into a settlement agreement (the "Settlement Agreement") with EMI Entertainment World, Inc. and its associated music publishers (collectively, the "EMI Parties") related to a lawsuit that the EMI Parties originally filed in the United States District Court for the Southern District of New York (the "District Court") on January 11, 2007 (the "EMI Litigation"). In the lawsuit, as amended, the EMI Parties charged that the Company breached two ringtone license agreements by underpaying royalties and infringed the EMI Parties' copyrights by making unlicensed use of the EMI Parties' works. The EMI Parties claimed in excess of $10 million in damages for the alleged breaches of contract, and claimed statutory damages for alleged copyright infringement of "many millions" of dollars. The Company denied the EMI Parties' allegations and counterclaimed for no less than $1.5 million based upon the EMI Parties' alleged breach of contract and tortious interference.
The Settlement Agreement concludes the EMI Litigation, and InfoSpace does not expect that the settlement reached with the EMI Parties pursuant to the Settlement Agreement will materially and adversely affect the Company's business or results of operations.
This Current Report on Form 8-K contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, including
statements related to InfoSpace's expectation that the settlement reached
between InfoSpace and the EMI Parties pursuant to the Settlement Agreement will
not have a adverse and adverse affect the Company's business or its results of
operations. These statements involve risks and uncertainties as well as
assumptions that, if they were to never materialize or prove incorrect, could
cause actual results to differ materially from those projected, expressed or
implied in the forward-looking statements. InfoSpace undertakes no obligation to
update or correct these forward-looking statements.
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