Coin

<ul class="news-points"> 
 <li>U.S. court orders Ryder Ripps and Jeremy Cahen to pay Yuga Labs $1.57 million in BAYC NFT lawsuit.</li> 
 <li>Yuga Labs awarded $1.37 million for disgorgement and $200,000 in statutory damages.</li> 
 <li>Judge rejects “satire” defense, ruling that the defendants infringed BAYC trademarks intentionally.</li> 
</ul> 
U.S. District Court of Califonia has issued an order that compels nonfungible token (NFT) artists Ryder Ripps and Jeremy Cahen to pay <a href="https://coinedition.com/bored-ape-yacht-club-wants-fairness-in-dookey-dash-identifies-scams/">Bored Ape Yacht Club (BAYC)</a> creator Yuga Labs a substantial sum of $1.57 million. 
According to the October 25 court ruling, the payment is in disgorgement and damages. Notably, this ruling ends the protracted legal battle characterized by allegations of “copycat” NFT creation. 
The order follows a partial judgment granted in favor of Yuga Labs early this year. Yuga Labs had alleged that the defendants, Ripps and Cahen, violated copyright laws by creating copycat versions of its BAYC collectibles. The U.S. court awarded Yuga Labs $1.37 million, justifying that the NFT firm was rightfully entitled to the disgorgement of the defendants’ profits. Moreover, an extra $200,000 was granted in statutory damages for cybersquatting violations. 
Trademark an…
The post <a rel="nofollow" href="https://coinedition.com/yuga-labs-wins-1-57m-in-damages-in-bayc-copycat-nft-legal-battle/">Yuga Labs Wins $1.57M in Damages in BAYC Copycat NFT Legal Battle</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Yuga Labs Wins $1.57M in Damages in BAYC Copycat NFT Legal Battle

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