Grocery Chain Trader Joe's Sues Avalanche DEX Again
Copyright Infringement Lawsuit Seeks To Shut Down Trader Joe Crypto Trading Platform’s Website
By: The Defiant Team •
Trader Joe's, the well-known American grocery store chain, is again pursuing legal action against Trader Joe, the leading decentralized exchange on the Avalanche network.
In a lawsuit filed last week, Trader Joe's alleges trademark infringement and seeks damages in the form of all profits made by the DeFi platform, additional compensation, and the permanent shutdown of all affiliated websites.
The protocol’s JOE token is down roughly 10% in the past week.
Trader Joe's had previously filed a complaint with the United Nations' World Intellectual Property Organization (WIPO) last year, attempting to seize the trading platform’s website. However, the case was dismissed.
The lawsuit claims that the DeFi platform's name exploits Trader Joe's brand and accuses the platform of providing false information about its connection to the grocery chain. The lawsuit also seeks compensation for the alleged erroneous loss suffered by Trader Joe's in the United Nations court.
The outcome of this lawsuit could further define the boundaries between traditional businesses and emerging DeFi platforms, setting a precedent for similar trademark disputes in the future.