Oct 7, 2005 : NaviSite Settles Sister Company Lawsuit

📅 October 7, 2005 - According to reports, Web and application hosting provider NaviSite (navisite.com 👉 Total Reviews: 1
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 NaviSite and Engage, an online advertising company, were previously subsidiaries of Internet holding company CMGI.  Engage declared bankruptcy in 2003 and sold its assets for $2 million. But prior to going bankrupt, it paid a reported $3.4 million in cancellation fees to NaviSite for a series of cancelled Web hosting contracts.  Engage's creditors, the report says, allege that the $3.4 million Engage paid to NaviSite was not a legitimate transaction and was arranged by CMGI in order to save NaviSite. The settlement jumps to one million if the $375,000 is not paid in full by the end of the year.