| GMAC Drops Lawsuit Against LendingTree
In dispute was GMAC.RealEstate.com June 8, 2004 By MortgageDaily.com staff |
| A lawsuit filed over a disputed Internet domain address has been dismissed — leaving feuding mortgage companies as friendly competitors once again.
The lawsuit, filed by General Motors Corp. in a U.S. District Court in Michigan, accused LendingTree.com of attempting to trade on GMAC’s reputation by using the Internet address GMAC.realestate.com — which is similar to the Web address gmacrealestate.com used by GM’s mortgage lending unit, General Motors Acceptance Corp. Last week, LendingTree hinted in a statement to MortgageDaily.com that the issue could be resolved if GMAC would contact the company to discuss the matter. In an announcement today, LendingTree, Inc. said GMAC dismissed the suit. “We understand how these misunderstandings can occur, and GMAC was very prompt in withdrawing the complaint once it realized we had not done what it had accused us of doing,” a LendingTree executive said in the announcement. “Once we learned that LendingTree had not used ‘GMAC’ in an Internet domain name, we withdrew the complaint,” GMAC’s counsel was quoted as saying in the announcement. “LendingTree was very gracious about the whole thing.” |
