Circuit

April

when

Ryder Ripps and Jeremy Cahen, NFT artists, received a negative ruling in <a href="https://optimisus.com/news/nft-news/bayc-community-accuses-yuga-labs-of-ip-theft-for-trademarking-logo/" rel="noopener noreferrer nofollow">their lawsuit against Yuga Labs</a>, the developer of the well-known Bored Ape Yacht Club.  
The verdict not only dismissed their counterclaims but also imposed a $9 million penalty, complicating their legal situation.  
The legal battle began in April 2023, when Yuga Labs sued Ripps and Cahen, alleging copyright infringement due to unauthorized copies of <a href="https://optimisus.com/news/nft-news/bayc-creator-yuga-labs-wins-copyright-case/" rel="noopener noreferrer nofollow">BAYC NFTs</a>.  
The dispute arose following the release of the Ryder Ripps BAYC (RR/BAYC) collection in May 2022, in which the artists incorporated the BAYC brand into their work.  
The initial litigation resulted in Ripps and Cahen being ordered to pay $1.57 million in damages and legal costs.  
According to a court filing dated February 2nd, the judge dismissed Cahen and Ripps' latest counterclaims, holding them accountable for additional financial penalties.  
This time, the artists must pay nearly $9 million in legal fees, expert witness costs, and disgorgement. The court also ordered the removal of all RR/BAYC NFTs, associated smart contracts, and linked social media profiles owned by the duo.  
In response to the unfavorable ruling, Jeremy Cahen informed his followers that they planned to appeal the decision and take the case to <a href="https://www.ca9.uscourts.gov/" rel="noopener noreferrer nofollow">California's Ninth Circuit Court of Appeals.</a>  
The artists filed counterclaims against Yuga Labs, seeking a declaratory judgment of non-defamation as well as intentional and negligent infliction of mental distress. 
The post <a href="https://optimisus.com/news/nft-news/these-two-nft-artists-were-ordered-to-pay-9-million-in-disgorgement-against-yuga-labs/" rel="noopener noreferrer nofollow">These two NFT artists were ordered to pay $9 million in disgorgement against Yuga Labs</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

These two NFT artists were ordered to pay $9 million in disgorgement against Yuga Labs

Optimisus

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