Telegram Messenger Inc. was ordered to pay nearly US $ 625,000 in legal fees to a small cryptocurrency company for which it had sued for its use of the GRAM cryptocurrency symbol and trademark.
In a ruling dated November 2, the United States district judge decided Charles Breyer Legal fees of $ 618,240 for 1,030.4 hours of work of $ 600 per hour. Lantah had requested compensation of $ 900 an hourHowever, the judge lowered the rates in order to reach the market price for services.
Lantah also received charges of $ 6,737.35 that Telegram had no objection to.
Lantah LLC has been committed to the cause since May 2018. after Telegram raised $ 1.7 billion through the first coin offering for GRAM, the native token of its blockchain platform Telegram Open Network.
Telegram accused the company of violating common law trademarks, unfair competition and false designation of origin for attempting to launch its own GRAM token.. Lantah counterclaimed in June 2018, claiming it took precedence over the trademark by filing an application with the U.S. Patent and Trademark Office in late 2017.
But still, The lawsuit was voluntarily withdrawn this August after Telegram abandoned the TON project in May and settled a lawsuit filed by the US Securities and Exchange Commission in June.
The ruling stipulated that Telegram’s motion to voluntarily dismiss the case was subject to the company paying all Lantah legal fees incurred in its defense. With the lawsuit dismissed without prejudice, Telegram has the right to assert future claims against Lantah for the GRAM brand.
In your agreement with the SEC, Telegram agreed to notify the SEC prior to any digital broadcast for the next three years.