By Conor Coyle
Date: Friday 30 Dec 2016
LONDON (ShareCast) - (ShareCast News) - Retailers in the United States such as Amazon and Walmart are being taken to court for infringing on the trademark of well-known hip-hop group RUN-DMC.
Merchandise sold in stores by various retailers carried the name of the music group, with the case claiming that they "are trading on the goodwill" of RUN-DMC on the basis it was endorsed by them.
The lawsuit was filed in the US District Court for the Southern District of New York, and the companies could be set for a payout of up to $50m in damages arising from the claim.
The group shot to fame in the 1980s in New York City with hits such as "It's Like That" and "My Adidas" but have not been together for several years.
However, the lawsuit argues that Amazon and Walmart were among those who harmed the business of RUN-DMC during its existence, alleging that "the number of infringing materials are too numerous to properly list."
The other retailers included in the case are Jet.com, Vision World, Infinity Fashion and SW Global, all of which have business links to Amazon, according to the court filing.
Email this article to a friend
or share it with one of these popular networks:
Currency | US Dollars |
Share Price | $ 59.82 |
Change Today | $ 0.11 |
% Change | 0.18 % |
52 Week High | $175.86 |
52 Week Low | $58.61 |
Volume | 14,207,397 |
Shares Issued | 8,077m |
Market Cap | $483,166m |
Beta | 0.56 |
RiskGrade | 117 |
Strong Buy | 14 |
Buy | 19 |
Neutral | 5 |
Sell | 0 |
Strong Sell | 0 |
Total | 38 |
Time | Volume / Share Price |
16:00 | 3,497,890 @ $59.82 |
16:00 | 114 @ $59.83 |
15:59 | 24,300 @ $59.82 |
15:59 | 100 @ $59.82 |
15:59 | 170 @ $59.82 |
You are here: research