Ybrant Must Give Up Lycos Shares In $37M Award Row

Law360 (May 9, 2018, 8:33 PM EDT) -- A New York federal judge agreed Tuesday to allow a South Korean technology company to take over India-based Ybrant Digital's interest in the search engine and web portal Lycos Inc. to help pay $37 million in arbitral awards issued over a failed stock purchase agreement.

Daum Global Holdings Corp., which won the awards against Ybrant Media Acquisition Inc. (USA) and Ybrant Digital Ltd. (India) after their 2010 deal to buy Lycos from Daum fell through, has been trying to enforce the three awards totaling approximately $37 million, which have all been confirmed by the court, for the last several years....

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