Judge Rules Against Alibaba in Crypto Trademark Case

UPDATE (2, May 21:57 UTC): Alibaba told CoinDesk in a statement that it would file a new motion against the Alibabacoin Foundation, saying "Alibaba Group is not affiliated with the ABBC Foundation. The court's ruling on April 30 was with respect to jurisdiction. We will be submitting a new motion and are confident we will be able to put an end to this willful, concerted and unlawful scheme by the ABBC Foundation to exploit Alibaba Group trademarks." U.S. District Judge Paul Oetken rejected digital retail giant Alibaba's trademark lawsuit against the Alibabacoin Foundation at the end of April, court filings show. Alibaba failed to show that the District Court from the Southern District of New York has jurisdiction over the Alibabacoin Foundation, according to the ruling. The company first brought the suit early in April when it alleged that Alibabacoin was trying to mislead investors by implying that Alibaba was…

Read the original article here