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Home»ADOPTION NEWS»Ryder Ripps will have to pay Yuga Labs $9 million after the lawsuit’s final verdict.
ADOPTION NEWS

Ryder Ripps will have to pay Yuga Labs $9 million after the lawsuit’s final verdict.

By Crypto FlexsFebruary 4, 20242 Mins Read
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Ryder Ripps will have to pay Yuga Labs  million after the lawsuit’s final verdict.
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Posted 1 minute ago In ~

Ryder Ripps, along with Jeremy Cahen, also known as Pauly0x, had hoped to settle the lawsuit they filed against NFT company Yuga Labs in exchange for a $100 billion payout.

Instead, Ripps and Cahen must pay Yuga Labs nearly $9 million in profit margins, fines, attorney fees and other costs, according to U.S. District Judge John F. Walter’s final ruling.

A federal judge previously ruled in favor of Yuga Labs in October 2023 in the company’s long-running dispute against Ryder Ripps and Jeremy Cahen, creators of the “copycat” RR/BAYC collection. But the final fine total was set at $8.9 million, including nearly $7 million in attorney fees, with this latest motion.

As part of the ruling, Ripps and Cahen must abandon the NFTs and transfer the infringing intellectual property, including domain names and smart contracts, to Yuga Labs within the next two weeks.

Lawyers for Yuga Labs and Ripps and Cahen could not immediately be reached for comment.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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