The original action against MIVA and senior executives was filed on July 25, 2005. The individual Defendants engaged in a scheme to inflate stock prices, secure their executive positions, and reap great profits upon sale of the FindWhat.com securities. After successfully defending Defendant's Motion to Dismiss and gaining class certification, the District Court for the Middle District of Florida granted Defendant's Motion for Summary Judgment. Plaintiffs then successfully appealed the District Court's decision to the Eleventh Circuit Court of Appeals. On October 1, 2012, the United States Supreme Court denied Defendant's petition for certiorari.
On May 22, 2014, the Court issued an order preliminarily approving the $2.4 million settlement. On September 15, 2014, the Court provided final approval to the Settlement, finding that the Settlement was fair, adequate and reasonable in all respects.