Telegram Messenger Inc. has been ordered to pay almost $625,000 value of authorized charges to a small cryptocurrency agency that it sued over utilizing the ‘GRAM’ crypto-ticker and trademark.
In a Nov. 2 ruling, U.S District Decide Charles Breyer granted $618,240 in lawyer’s charges for 1,030.4 hours work billed at $600 per hour. Lantah had requested compensation at a price of $900 per hour, however the decide decreased the charges to fulfill the market price 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 via an preliminary coin providing (ICO) for GRAMs — the native token of its Telegram Open Community (TON) blockchain platform.
Telegram accused the agency of widespread legislation trademark infringement, unfair competitors, and false designation of origin for attempting to launch its personal GRAM token. Lantah launched a counter-suit in June 2018, asserting it had precedence over the trademark via having filed an software with the U.S. Patent and Trademark workplace in late-2017.
Nonetheless, the lawsuit was voluntarily dropped in August this yr after Telegram deserted the TON challenge in Could, and settled a lawsuit filed by the united statesSecurities and Alternate Fee (SEC) in June.
The ruling mandated that Telegram’s movement to voluntarily dismiss the case was contingent on the agency paying all lawyer charges incurred by Lantah in its protection. Because the go well with was dismissed with out prejudice, Telegram has the suitable to file future claims towards 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.