Yuga Labs Settles Bored Ape Lawsuit, Ripps and Cahen Barred from Trademarks

Yuga Labs settled its two-year lawsuit against Ryder Ripps and Jeremy Cahen over the RR/BAYC NFT collection.

“Yuga Labs settles Bored Ape NFT lawsuit, ending fight over alleged copycat tokens The settlement avoids a trial and ends the dispute over the RR/BAYC NFTs, which claimed to parody Bored Ape Yacht Club, one of the most recognizable NFT brands”

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The settlement avoids a trial and would permanently bar Ripps and Cahen from using Yuga's trademarks.

@coindesk

A district judge initially awarded Yuga nearly $9 million, but an appeals court overturned that ruling.

The appeals court overturned the $9 million award and said a jury should decide if buyers were misled.

Yuga claimed Ripps and Cahen sold lookalike tokens and earned millions by confusing buyers.

Cryptonews.net

The defendants argued their work was a satirical response.

Yuga’s Bored Ape collection became one of the most recognizable NFT brands.

“Yuga Labs has settled its lawsuit against artist Ryder Ripps and Jeremy Cahen over their alleged copycatting of its non-fungible tokens (NFTs) from the Bored Ape Yacht Club collection”

Cryptonews.net

The firm sued in 2022, claiming Ripps and Cahen sold lookalike tokens.

The settlement ends the dispute with proposed court orders that would permanently bar the defendants from using Yuga’s trademarks.