Telegram has ended a legal dispute over Gram's trademark rights
In the face of a bitter fight with the US Securities and Exchange Commission, Telegram returned $1.7 billion in funds for its Telegram Open network in May and has now given up the right to register the Gram trademark, according to Blockbeats.
Telegram recently voluntarily dismissed a lawsuit against another cryptocurrency company over the GRAM cryptocurrency trademark and will pay its legal fees.
In 2019, the Telegram app company obtained a preliminary injunction forbidding the small tech company Lantah from using the term to launch a GRAM cryptocurrency that was intended to be "the world's first borderless market." Telegram claims it has trademark rights to GRAM, a cryptocurrency that will support its blockchain project, Telegram Open Network. Telegram began developing the project in early 2018 -- around the same time it filed a lawsuit against Lantah.
But in early 2020, due to SEC obstruction and regulatory pressure, Telegram finally announced in May that it had to abandon the development and promotion of the TON project. Then, on 9 June, Telegram filed a motion calling for the trademark case against Lantah to be dismissed "without prejudice or conditions". Mr Lantah retorts that Telegram should pay "reasonable legal fees and costs". Telegram's lawyers insist the company should not have paid the fee. They claim that "most of Lantah's expenses were caused by" its own (unsuccessful) legal strategy ", which they call "excessive and avoidable" -- after all, Telegram has won a preliminary injunction against Lantah's use of the trademark.
Eventually the court ordered Telegram to pay Lantah's court costs and lifted the preliminary injunction.
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