Ethereum

Circuit

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/artists-lose-legal-battle-against-bored-ape-yacht-club-creators/" data-wpel-link="internal">Artists Lose Legal Battle Against Bored Ape Yacht Club Creators</a><br></p>
<p class="p1" style="text-align: justify">Artists Ryder Ripps and Jeremy Cahen’s counterclaims in the lawsuit against Yuga Labs, the creators of the popular Ethereum network <a href="https://en.coin-turk.com/bitcoinshrooms-collection-sothebys-first-bitcoin-ordinals-sale/" data-wpel-link="internal">NFT</a> collection Bored Ape Yacht Club (BAYC), were dismissed, requiring them to pay $9 million in damages and other legal costs. In April 2023, a judge ruled in favor of Yuga Labs in a lawsuit against Ripps and Cahen for creating unauthorized versions of BAYC NFTs and violating copyright laws.</p> 
<h2 class="p1" style="text-align: justify" id="decision-reached-in-yuga-labs-case">Decision Reached in Yuga Labs Case</h2> 
<p class="p1" style="text-align: justify">Following this decision, the duo had launched the Ryder Ripps BAYC collection in May 2022, profiting from the well-known BAYC brand. Consequently, Ripps and Cahen were ordered to pay Yuga Labs a total of $1.57 million in damages and cover legal fees, seemingly concluding the case.</p> 
<p class="p1" style="text-align: justify">However, according to a court filing dated February 2, the court rejected Ripps and Cahen’s final counterclaims against the allegations. This time, they are required to pay approximately $9 million, covering attorney fees, expert witness fees, and compensation. Additionally, they were instructed to destroy all RR/BAYC NFTs in their possession, with the following statement shared:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“If the defendants have any RR/BAYC NFTs, they will destroy the NFTs or give them to Yuga Labs to burn.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Cahen, also known as Pauly on <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude">social media</a> platform X with 174,100 followers, stated in a post that the duo intends to appeal the decision to the California Ninth Circuit Court of Appeals.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-310940" src="https://coin-turk.com/wp-content/uploads/2024/02/pauly-tweet.png" alt="" width="500" height="649"></p> 
<h2 class="p1" style="text-align: justify" id="noteworthy-details-in-the-case-file">Noteworthy Details in the Case File</h2> 
<p class="p1" style="text-align: justify">Ripps and Cahen filed counterclaims against Yuga Labs, asserting that there was no intentional infliction of emotional distress or defamation. However, the judge dismissed the first and third claims against Ripps and Cahen, which included false origin and cybersquatting (the act of buying domain names to profit from a trademark) allegations, while also determining the multimillion-dollar penalty.</p> 
<p class="p1" style="text-align: justify">The case also requires Ripps and Cohen to surrender all social media accounts associated with the RR/BAYC NFTs, as well as the smart contract. The court filing included the following statement:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“The defendants will destroy all other infringing materials, including NFTs using the BAYC Brand, articles, documents, software, promotional products, or advertisements.”</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/artists-lose-legal-battle-against-bored-ape-yacht-club-creators/" data-wpel-link="internal">Artists Lose Legal Battle Against Bored Ape Yacht Club Creators</a></h5>

Artists Lose Legal Battle Against Bored Ape Yacht Club Creators

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