GMAC Dismisses Suit Against LendingTree
CHARLOTTE, N.C., June 7, 2004 -LendingTree, Inc. revealed today that General Motors Acceptance Corporation has dismissed its recently filed complaint against LendingTree. GMAC had alleged that LendingTree was attempting to trade on GMAC’s reputation by using or appropriating GMAC’s trademark as a domain name.
Charles H. Ellerbrock, counsel for GMAC, stated, “Once we learned that LendingTree had not used ‘GMAC’ in an Internet domain name, we withdrew the complaint. LendingTree was very gracious about the whole thing.”
Acknowledging this turn of events, LendingTree Senior Vice President and General Manager, Realty Services Eric Cunliffe said, “We understand how these misunderstandings can occur, and GMAC was very prompt in withdrawing the complaint once it realized we had not done what it had accused us of doing.”
About LendingTree, Inc.
Founded in 1996, LendingTree is an online exchange that connects consumers with Lenders and REALTORS®. LendingTree has facilitated nearly $81.7 billion in closed loan and real estate transactions since its inception, serving more than 12.8 million consumers. Loans available via the LendingTree exchange include home mortgage and refinance, home equity, automobile, personal, debt consolidation, and credit cards. The LendingTree Realty Services offering enables consumers in the market to buy or sell a home to choose from a nationwide network of REALTORS® who can help them from start to finish. LendingTree is an operating business of IAC/InterActiveCorp (NASDAQ: IACI). LendingTree also owns and operates RealEstate.com, Domania, and GetSmart.com.