Messaging giant Telegram drops lawsuit over trademark of Gram token.

The encrypted messaging giant Telegram has abandoned its lawsuit against a Florida firm over the use of the 'GRAM' token trademark.

Telegram had filed the lawsuit against Lantah LLC in May 2018. The Florida-based company claimed to have formed months before Telegram announced its blockchain plans, and the company claimed it intended to issue its own GRAM tokens. It argued that it had priority over the GRAM trademark. The encrypted messaging giant filed a lawsuit against Lantah at the US District Court for the Northern District of California. The court granted the company a preliminary injunction that barred Lantah from using the trademark.

 

Telegram drops lawsuit after two years. 

According to the Bloomberg Law report, Telegram has finally decided to drop the lawsuit over Gram token’s trademark after two years. The messaging giant was allowed to drop the suit without prejudice, which allows it to possibly refile the lawsuit in the future. The district court also vacated the preliminary injunction against Lantah that barred the Florida company from using the GRAM trademark. Telegram has decided to drop the lawsuit two months after it announced that it would be discontinuing its support for the TON blockchain testnet. As reported earlier, Telegram settled with the US SEC, paying an $18.5 million settlement fee. 

 

Pavel Durov blamed the US court for killing the TON project. 

Telegram CEO and founder, Pavel Durov, blamed the US court for shutting down the TON blockchain project. Durov blasting at the US court said that the people outside the US can vote for their presidents and elect their parliaments, but they still depend on the United States when it comes to technology and finance. The US court had reasoned that if the blockchain project is allowed to distribute tokens outside the US, even then, the US citizen would be able to access the tokens issued by the company. That is why it ruled that the company can not issue its token even outside the US.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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