Verisign faces class action over its .com monopoly and 30% price hikes
Verisign .com Domain Name Registry Consumer Class Action
Hagens Berman has filed a class-action lawsuit against Verisign and ICANN, alleging an illegal monopoly over the .com registry. Since 2021, Verisign's wholesale fee has risen over 30%, from $7.85 to $10.26 per domain, while its operating costs are roughly $3 and its margins exceed 67%. The suit claims a contract with ICANN grants Verisign a permanent monopoly, and it seeks damages and competitive bidding for anyone who registered a .com since 2022.
Verisign is ripping off the owners of 150 million .com websites by charging over $10 annually for each .com registration, making over $1 billion with its predatory pricing scheme that the Company then uses to pad its shareholders’ pockets.