Yuga Labs, the masterminds behind Bored Ape Yacht Club’s illustrious NFT project, has recently declared that they have found a resolution to their legal dispute involving Thomas Lehman and his role in operating an illegal marketplace with counterfeit copies of their iconic collection.
The Lawsuit Ended in Favor of Yuga Labs
In June, Yuga Labs brought a trademark lawsuit against Ryder Ripps and Jeremy Cahen for purportedly copying the company’s NFT collections and diminishing the original Bored Ape products–causing them to deny these accusations. Moreover, Thomas Lehman was held accountable by Yuga Labs for working as an “integral element in a business venture that fashioned and commercialized websites and smart contracts” to market misleading RR/BAYC NFTs without informing buyers. This alleged behavior supposedly constituted a “traditional trademark violation.”
Today, the dispute was successfully resolved. “I am delighted to have concluded negotiations in the Yuga Labs, Inc. v. Lehman trademark lawsuit held at Northern District of New York,” declared Lehman through an emailed statement.” I have never intended to inflict damage on Yuga Labs’s brand or reputation. All derogatory remarks about them, their founders, and their contributions towards NFT space are declined with gratitude”.
With great satisfaction, a Yuga Labs spokesperson announced that Mr. Lehman had accepted his part in aiding Ryder Ripps and Jeremy Cahen with the unlawful manufacture, promotion, and distribution of counterfeited NFTs bearing Yuga Labs’ trademarks.
On the other hand, the Conflict in the NFT World Continues
Despite settling with Thomas Lehman, the dispute between Ripps and Cahen continues. At the end of December, they served a counterclaim against NFT heavyweight Yuga Labs, asserting that the company does not own pertinent copyright and that their technology prevents duplication of Non-Fungible Tokens (NFTs). In response to this allegation, Yuga Labs declared in an official statement: “Creators should trust in the law for protecting their work from intellectual property theft.”
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