Lawsuit against settled

DBS subsidiary settles mutual lawsuit with AdultShop

Pageseeker Limited, a subsidiary of Dark Blue Sea (ASX: DBS) has reached a settlement with (ASX: ASC) which will allow both sides to drop their mutual lawsuits.

The companies were involved in a long-running spat over the arrangements of a contractual agreement they had made in 2001, when Pageseeker sold its Today's Success adult website to Adultshop.

Pageseeker had been suing AdultShop for nearly $100,000 in money the company felt it was owed for redirected traffic to the site.

In return AdultShop countersued for $1.12 million to recover overpayments made to Pageseeker, claiming the amount it paid for the company did not reflect discount arrangements that had been agreed to in writing.

The details of the settlement have not yet been disclosed.