Telegram Messenger Inc. Paying approximately $ 625,000 in attorneys’ fees, a small cryptocurrency company filed a lawsuit against it using cryptographic tape and the “GRAM” trademark.
By order of November 2, US District Judge Charles Brewer paid $ 618,240 in attorneys’ fees for 1,030.4 hours of work at a rate of $ 600 per hour. Lantah demanded compensation of $ 900 an hour, but the judge reduced the fee to match the market interest rate for the service.
Lantah also received $ 6,737.35 in damages, which Telegram had no objection to.
Lantah LLC has been fighting the lawsuit since May 2018, after Telegram raised $ 1.7 billion through GRAM’s first coin offering, which is its token of the blockchain platform Telegram Open Network.
Telegram accused the company of trademark infringement, unfair competition and false designation of origin for attempting to launch its GRAM token. In June 2018, Lantah filed a counter-suit claiming to have priority over the trademark when it filed an application with the United States Patent and Trademark Office in late 2017.
However, the lawsuit was voluntarily dismissed in August of this year after Telegram dropped the TON project in May and settled a lawsuit from the U.S. Securities and Exchange Commission in June.
The ruling ruled that Telegram’s request to close the case voluntarily was conditional on the company paying all attorneys’ fees to Lantah in defense. Because the claim was rejected without precondition, Telegram has the right to file claims against Lantah in the future over the GRAM trademark.
In a settlement with the SEC, Telegram agreed to notify the SEC of the digital releases within the next three years.