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Telegram to pay $625K in fees after dropping ‘GRAM’ ticker lawsuit

Telegram to pay $625K in fees after dropping ‘GRAM’ ticker lawsuit

Telegram Messenger Inc. has been ordered to pay almost $625,000 price of authorized charges to a small cryptocurrency agency that it sued over utilizing the ‘GRAM’ crypto ticker and trademark.

In a Nov. 2 ruling, United States District Choose Charles Breyer granted $618,240 in legal professional’s charges for 1,030.four hours of labor billed at $600 per hour. Lantah had requested compensation at a charge of $900 per hour, however the choose diminished the charges to fulfill the market charge for the providers.

Lantah was additionally awarded $6,737.35 in prices that Telegram didn’t object to.

Lantah LLC has been defending the lawsuit since Could 2018, after Telegram raised $1.7 billion by way of an preliminary coin providing for GRAMs — the native token of its Telegram Open Community blockchain platform.

Telegram accused the agency of frequent regulation trademark infringement, unfair competitors and false designation of origin for attempting to launch its personal GRAM token. Lantah launched a counter swimsuit in June 2018, asserting it had precedence over the trademark by way of having filed an utility with the U.S. Patent and Trademark workplace in late 2017.

Nevertheless, the lawsuit was voluntarily dropped in August this yr after Telegram deserted the TON undertaking in Could, and settled a lawsuit filed by the usSecurities and Alternate Fee in June.

The ruling mandated that Telegram’s movement to voluntarily dismiss the case was contingent on the agency paying all legal professional charges incurred by Lantah in its protection. Because the swimsuit was dismissed with out prejudice, Telegram has the best to file future claims in opposition to Lantah over the GRAM trademark.

In its settlement with the SEC, Telegram agreed to offer the SEC discover earlier than any digital issuances for the following three years.

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