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Article: Lawsuits Overshadow Expedia's Strong Stock Offering.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 17, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Nov. 18 -- Microsoft's spinoff, Expedia, which has tripled in price since its IPO a week ago, is seeing a lot of action in court too.
The latest lawsuit is from Reed Elsevier, the huge Anglo-Dutch database and business publisher, which owns Cahners Travel Group in Secaucus.
Reed Elsevier is suing Microsoft and its Expedia for breaching a 1998 agreement under which Cahners provided its worldwide hotel directory database to Expedia for its travel Web site, Expedia.com
When the agreement was announced in August of last year, a Microsoft news release said Expedia and Cahners would work together "to build ...