Victor Ugochukwu · Dec 14, 2020 . 5min read
Telegram to pay $625k as legal fees over Gram ticker lawsuit
U.S. Judge has ordered Telegram to pay over $625,000 as legal costs to Lantah, the firm Telegram accused over the use of the GRAM ticker.
By Komal Joshi · Nov 4, 2020 . 5min read
A GRAM Ticker lawsuit in which Telegram sued the small crypto firm Lantah LLC back in 2018 has now finally come to an end. The messaging giant, Telegram has now accepted orders to pay the legal fees of around $625000 to Lantah. This has been unveiled via the ruling by Charles Breyer, a U.S. District Judge, on November 02, 2020.
Lantah has requested compensation from Telegram at the rate of $900 per hour. However, the U.S. District Judge has somehow managed to reduce the fees in accordance with the market rates. According to the orders, United States District Judge Charles Breyer gave $618,240 in attorney’s fees for 1,030.4 hours of work billed at $600 per hour. Lantah was also granted $6,737.35 in costs. However, Telegram did not raise any objection for the same.
Telegram voluntarily dismissed the lawsuit against Lantah.
Lantah has been opposing the lawsuit since May 2018. Telegram cited the firm of common law trademark infringement, unlawful competition, and false classification of origin for attempting to launch its own GRAM token. Nevertheless, Lantah had counter-suit in June 2018 by declaring that it has already registered for an application with the U.S. Patent and Trademark Office in 2017. Presently, the lawsuit has concluded as Telegram has voluntarily dropped it in August 2020. The idea is that the firm has already left its TON project in May due to the lawsuit registered by the U.S. Securities and Exchange Commission (SEC).
Recently, this is the concluding step of this lawsuit. Telegram has intentionally dropped the lawsuit after the court has given the power to file another case in the future. Simultaneously, the firm has agreed to repay for legal fees signed under the District Court Judge as mentioned above.
Nonetheless, this doesn’t indicate that Lantah is possessing a clean slate now. The messaging giant can anytime file a lawsuit against the firm in the future over the GRAM trademark. In its agreement with the SEC, Telegram suited to give the SEC notice before any digital issuances for the next three years.
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