Naviant, Inc.

Omaha, NE: (Aug-21-07) infoUSA, a leading provider of proprietary business and consumer databases, sales leads, direct marketing, and email marketing, brought a lawsuit against Naviant, Inc. in the District Court for Douglas County, Nebraska, alleging that the company breached a database license agreement. The suit, filed in December 2001 was amended on July 12, 2007, when the District Court entered an Amended Order of Judgment in the Company's favor in the amount of $9.75 million, plus interest. In a recent development, on August 10, 2007, infoUSA and Naviant agreed not to pursue further appeals of the order and agreed to settle this matter for approximately $11.2 million, less attorney fees and costs. As per the terms of the agreement, the court distributed approximately $9.9 million in net proceeds to infoUSA. Company officials stated that this will be recorded in the financial statements of the company during the third quarter of 2007. [BUSINESS WIRE: LICENSING AGREEMENT ]

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Published on Aug-22-07