Million

NanoString Technologies and Subsidiaries File for Bankruptcy Protection Following $31 Million Patent Infringement Case

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Seattle-based NanoString Technologies and three of its subsidiaries have filed for Chapter 11 bankruptcy protection, citing a $31 million jury award in a patent infringement lawsuit. The dispute arose after rival company 10x Genomics accused NanoString’s GeoMx® Digital Spatial Profiler (DSP) of infringing seven patents exclusively licensed to 10x by Prognosys Biosciences. The jury decided in favor of 10x, awarding them $31 million in damages. NanoString’s shares dropped 50% following the announcement of the award. In response, NanoString withdrew its full-year 2023 guidance to investors, which had projected revenue between $175 million and $185 million. … Read more

Orthodox Jewish Family Files $40 Million Lawsuit Against JetBlue, Alleging Discrimination

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QUEENS, NEW YORK – A Queens couple has filed a $40 million lawsuit against JetBlue, alleging that their family was unjustly removed from a New York-bound flight because they are Orthodox Jews. Michael Nektalov, 42, and his wife Miryem Yushanayev, along with their five children, were traveling back from an Aruba vacation on February 4, 2021, when the incident occurred. According to court documents filed in Brooklyn Federal Court, the couple was dressed in accordance with their religious customs, with Miryem wearing a head covering and Michael sporting a long beard and yarmulke. They also … Read more

Artists Ordered to Pay $9 Million in Damages in Bored Ape Yacht Club Copyright Lawsuit

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Los Angeles, California – Artists Ryder Ripps and Jeremy Cahen have suffered a setback in their legal battle against Yuga Labs, the creators of Bored Ape Yacht Club (BAYC). Recently, a court filing dismissed their counterclaims in the ongoing copyright lawsuit, leaving them with a hefty financial burden. The court’s decision mandates Ripps and Cahen to pay nearly $9 million in damages, including legal and expert witness fees, along with disgorgement. The controversy began in May 2022 when Ripps and Cahen launched an unauthorized collection called Ryder Ripps BAYC (RR/BAYC), intentionally capitalizing on the popularity … Read more

NFT Lawsuit Backfires: Ryder Ripps and Jeremy Cahen Face $9 Million Penalty and Asset Seizure from Yuga Labs

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Los Angeles, CA – Ryder Ripps and Jeremy Cahen have been ordered by a U.S. District Judge to pay nearly $9 million to NFT company Yuga Labs. In a lawsuit filed by Ripps and Cahen, they were seeking a massive payout of $100 billion from the company. However, the final judgment ruled in favor of Yuga Labs, resulting in the substantial payment. The dispute between Yuga Labs and Ripps and Cahen stems from the creation of the “copycat” RR/BAYC collection. In October 2023, a federal judge ruled in favor of Yuga Labs, marking a significant … Read more