Finally, after a protracted trademark infringement lawsuit, a court has ruled that Ryder Ripps and Jeremy Cahen must pay almost $9 million in damages to Yuga Labs.
Most of the amount goes toward legal bills, as the fines are just around $1.5 million. The goal of Ryder Ripps and Jeremy Cahen’s (Pauly0x) lawsuit against NFT firm Yuga Labs was to reach a $100 billion settlement.
Instead, Ripps and Cahen will be ordered to pay roughly $9 million to Yuga Labs as disgorgement of earnings, fines, lawyers’ fees, and other charges, according to U.S. District Judge John F. Walter’s final ruling in the case.
In October 2023, a federal court sided with Yuga Labs in their ongoing lawsuit against the “copycat” RR/BAYC designers, Ryder Ripps and Jeremy Cahen. Nevertheless, it was only after this most recent request that the total penalty amount of $8.9 million—including the roughly $7 million in lawyers’ fees—was calculated.
The judgment states that within two weeks, Ripps and Cahen must hand over NFTs and any infringing IP, including domain names and smart contracts, to Yuga Labs. It took some time to contact Yuga Labs and the attorneys representing Ripps and Cahen.
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