[bullseyeram]

I have bought a domain name for my Inkjets reseller business. So after a careful selection of a name for my site, I came up with ____.com (i am withholding the name for fear of possible legal action.
So all seems well until I got email from another person saying that I have stole his domain name! Apparently, he was about to buy that domain name and I beat him by acquiring it ahead by several minutes. As he claims he had just tried to get his credit card info but I had already acquired it when he was about to complete his purchase.

Quite unbelievable - but that is what he claims!
Now he is threatening to sue me...does he have any legal basis to make such a claim? Guys I need your help!