<

Yuga Labs has reached a settlement with Thomas Lehman, who built websites and smart contracts for Ryder Ripp’s copycat project RR/BAYC

The creator of the NFT collection Bored Ape Yacht Club has recently settled a lawsuit with one of the developers behind a copycat collection known as RR/BayC.

On February 6th, Yuga Labs settled a lawsuit that involved Thomas Lehman, the developer of websites and a smart contract selling “misleading” BayC NFTs from digital artist Ryder Ripps. The firm behind the blue-chip collection sued Lehman in January for his involvement and technical support for the collection of mimic monkeys.

According to the lawsuit, Lehman assisted Ripps and Jeremy Cahen to develop and promote the NFTs on social media.

Yuga Labs alleged that the actions of Lehman, Ripps and Cahen constituted a “deliberate effort to harm Yuga Labs at the expense of consumers by sowing confusion” regarding the two collections. In the settlement, Yuga Labs and Lehman agreed on a permanent injunction barring Lehman from using any “confusingly similar” BayC imagery or operating any social media accounts insinuating association with the company.

In a statement, Lehman said, “It was never my intention to harm Yuga Labs’s brand, and I reject all disparaging statements made about Yuga Labs and its founders and appreciate their many positive contributions to the NFT space.” A Yuga spokesperson said the firm was pleased that Lehman “acknowledged his role in assisting former cohorts, Ryder Ripps and Jeremy Cahen, to infringe on Yuga Labs’ trademarks in developing, marketing, and selling counterfeit NFTs.”

However, separate ongoing cases still exist regarding Ripps’ use of imagery from the BayC collection. Jeremy Cahen has also been sued for copying and selling the same products on the same platforms as Yuga. Ripps and Cahen were sued in June, with Yuga alleging that the artists were “trolling Yuga Labs and scamming consumers” into purchasing their copycats. The complaint also claimed that Ripps made more than $5 million by “pumping and dumping fake NFTs.”

On January 30th, investor rights protection law firm Rosen reiterated that investors should be aware of the “risks associated with NFTs and the potential for fraud,” adding that “investors should conduct their own due diligence and carefully consider their investment objectives and risk tolerance before investing in any NFTs.”

Read more:

Join us on Telegram

Follow us on Twitter

You might also like

LATEST NEWS

LASTEST NEWS