Ripps and Cahen Slammed with $9M Penalty in Yuga Lawsuit

A recent court ruling has dealt a major blow to artists Ryder Ripps and Jeremy Cahen in their legal battle against Bored Ape Yacht Club creator Yuga Labs. 

Ripps and Cahen’s counterclaims against Yuga were dismissed, and the judge ordered the pair to pay nearly $9 million in damages and other fees to the NFT company. 

The ruling stems from a lawsuit Yuga filed last year after Ripps and Cahen created and sold non-authorized versions of Bored Ape NFTs under the name RR/BAYC. Yuga accused them of copyright infringement. In April 2022, a judge sided with Yuga and ordered Ripps and Cahen to pay $1.57 million. 

BREAKINGOn a Saturday, The Federal Court has entered its final judgement against me in my case vs. YugaLabs.Judgement Total: $9,112,496.50(Note: My name is misspelled in the order)We are appealing this outcome in the Ninth Circuit Court of California.Case is ongoing. ✊

— PAULY (@Pauly0x) February 3, 2024

However, Ripps and Cahen filed counterclaims against Yuga for emotional distress and defamation. On February 2nd, a judge rejected these counterclaims and hit the artists with the multimillion-dollar penalty. This covers Yuga’s legal fees, expert witness fees, and disgorgement of profits from the unauthorized NFTs.

The judge also ordered Ripps and Cahen to destroy any remaining RR/BAYC NFTs and hand over associated social media accounts and smart contracts. Cahen announced on X that the pair plans to appeal the decision. But for now, the ruling represents a major setback in their high-profile legal feud with one of the biggest names in NFTs.

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2024-02-04 16:20