1 year ago
The NFT artists were besides ordered to screen Yuga Labs’ ineligible fees aft determining the trademark infringement constituted an “exceptional case.”
A United States territory tribunal justice has ordered nonfungible token (NFT) artists Ryder Ripps and Jeremy Cahen to wage Bored Ape Yacht Club creator Yuga Labs a full of $1.57 cardinal successful disgorgement and damages, on with ineligible fees, bringing an extremity to the long-running “copycat” NFT lawsuit.
The Oct. 25 order follows an April 21 partial summary judgement granted successful favour of Yuga Labs aft the steadfast claimed that Ripps and Cahen, the defendants, violated copyright laws by making copycat versions of its Bored Ape Yacht Club (BAYC) collectibles.
District tribunal Judge John Walter awarded Yuga Labs $1.37 cardinal aft concluding the NFT steadfast was entitled to a disgorgement of the defendants’ profits. An further $200,000 was awarded successful statutory damages relating to cybersquatting violations.
Yuga Labs v. Ryder Ripps et al - Notes from the Court's Findings of Fact and Conclusions of Law
Yuga is awarded $1,375,362.92 successful Ds profits, $200,000 successful statutory damages, and attorneys' fees and costs (amount TBD). A imperishable injunction is besides issued against Ds.
Yuga Labs has besides been entitled to retrieve lawyer fees and costs from the NFT artists aft the justice determined the trademark infringement constituted an “exceptional case.”
“A trademark lawsuit is mostly considered exceptional for purposes of awarding of attorneys’ fees erstwhile a enactment has taken positions that tin beryllium characterized arsenic “malicious, fraudulent, deliberate oregon willful,” the justice noted.
Judge Walter besides knocked backmost the defendants’ argument that the copycat BAYC versions were “satire” and “parody” — ruling that the defendants intentionally infringed Yuga’s BAYC trademarks with a atrocious religion intent to nett from them.
He besides noted the defendants continued to marketplace and beforehand their copycat BAYC versions aft the partial summary judgement was delivered against them successful April.
Yuga Labs filed the suit against the 2 artists successful June 2022.
In an Oct. 16 proceeding successful a United States appeals court, Ripps and Cahen’s lawyers tried to reason the lawsuit should beryllium thrown out connected the grounds of escaped code nether California’s anti-SLAPP statute. However, the three-judge sheet didn’t look persuaded by the lawyer’s arguments.
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BAYC is 1 of the astir invaluable NFT collectibles connected NFT marketplace OpenSea.
BAYC collectibles presently listed connected OpenSea. Source: OpenSeaSince April 2021, it has amassed 1.32 cardinal Ether (ETH) oregon $2.38 cardinal successful trading measurement with an mean level terms of 27.4 ETH ($49,200), according to OpenSea.
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