Telegram dumping complaints against the Lantah LLC, though still need to bear the attorney fees.
Telegram Messenger Inc, the free decentralized and cloud-based instant messaging application provider is by choice dropping the lawsuit put against Lantah group over the use of it’s Gram Token trademark for its token.
The latest action came after Telegram abandoning its Telegram Open Network “TON” blockchain-based project in May. Since June, the company is in the settlement process with the U.S. Securities and Exchange Commission (SEC) over allegations that the establishment has violated securities law.
After the TON lawsuit, Telegram has decided to abandon supplementary litigations in which the company is involved.
The report from law360 mentioned that on Aug 24, the U.S. district judge Charles R. Breyer from California asked Telegram to voluntarily drop the lawsuit against Lantah LLC over a Gram token “GRAM- GRM” trademark issue. As Telegram already abandoned the Telegram Open Network “TON” project in May.
The Lantah LLC lawsuit was meeting ruling from the U.S. jurisdiction since 2018 when Telegram gained unlawfully $1.7 billion funds though an ICO of GRM token (TON’s native cryptocurrency) from the investors.
Reportedly, The U.S. District Court for the Northern District of California permitted Telegram to drop its claims against Lantah LLC without prejudice to refiling and allowed the company to preserve its potential claims over its trademark “GRAM” for future if requires.
Though the court has vacated the preliminary injunction, Telegram is obliged to pay the reasonable attorney fees to the Florida-based Lantah LLC.
Lantah LLC was formed in June 2017, during the time the company appealed that GRAM trademark as its property but did not take the legal actions against Telegram during the time.
However, by record Telegram started its GRAM token ICO “GRM” in Dec 2017 and soon after that filled court case against Lantah LLC in May 2018 which the latter refuted in June 2018 over the use of GRAM trademark.