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Overture sued over Fast acquisition

Overture Services has been sued over its acquisition of Norway's Fast Search & Transfer, the company disclosed in a securities filing Wednesday. Overture said MRT Micro ASA filed suit April 10 in federal court in Massachusetts seeking all of the proceeds from the $70 million deal, as well as preliminary and permanent injunctions blocking the sale of Fast's search assets. MRT alleges that it owns some of the technology that Overture is acquiring in the purchase.

"Overture believes that it has meritorious defenses to the allegations directed against it and intends to defend the action vigorously," the company said in the filing.