Chinese trading company Alibaba has filed a petition in Manhattan District Court for an injunction against the company's unlawful use of the name Alibabacoin.
Judge Paul Oetken did not grant the request due to lack of proper justification. The decision in Alibaba Group Holdings Ltd. v. Alibabacoin Foundation was decided on April 30, 2018.
The court finds that the plaintiff did not provide valid reasons for suspending Alibabacoin's activities. According to the judge, even if Alibabacoin operated in America rather than Dubai, the court's decision would not have changed. Judge Oetken also reversed another judge's decision on April 2 to impose a temporary injunction against Alibabacoin.
Defendant argues that it did not intend to use the reputation of a Chinese trading company to promote its cryptocurrency activities, making claims of trademark infringement unfounded.
Alibaba Group's first lawsuit against Alibabacoin was filed on April 2, 2018. The plaintiff accused the defendant of using a trademark to which the plaintiff had exclusive ownership rights. In particular, the accusation was based on the fact that the CEO of the Alibabacoin Foundation, in one of his public statements, called his company Alibaba, not Alibabacoin, although he immediately corrected himself.
It was alleged that the defendant deliberately named his company so as to create the impression that Alibaba Group had entered the cryptocurrency market. The company also claims that Alibabacoin illegally raised $3.5 million from investors at the expense of Alibaba Group's reputation. However, in Alibabacoin's technical documentation there is no mention of the Alibaba Group, and the name Alibaba Group was not used when promoting the ICO.
In an interview, Alibabacoin CEO Jason Daniel Paul Philippe refused to comment on whether his company is in any way connected with Alibaba.
According to https://btcmanager.com
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