24/7 Media Sues DoubleClick

SAN FRANCISCO (05/05/2000) - Internet ad serving company 24/7 Media Inc. said today that it has filed a patent suit against competing online ad network DoubleClick Inc., because of DoubleClick's use of technology to target ads to Internet users.

The lawsuit accuses DoubleClick of inappropriately using 24/7's technology, which targets ads to Web surfer's interests, in DoubleClick's own DART ad serving technology system. 24/7 is asking the court to order DoubleClick to stop using the technology and to award monetary damages to 24/7.

"Based on our initial review of the patent, we believe that any claim of infringement would be baseless," says Elizabeth Wang, DoubleClick's general counsel. "We will defend ourselves vigorously."

In early trading today, DoubleClick's stock fell 6 cents, to US$61.88 at midday, and shares of 24/7 Media were up 13 cents, to $21.

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