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Elon Musk must face fraud lawsuit for disclosing Twitter stake late
Credit: IndiaTimes- Published on October 3, 2023
Elon Musk has been ordered by a US judge to face a lawsuit claiming that he defrauded former Twitter shareholders by not disclosing his investment in the company. The judge stated that shareholders in the proposed class action could try to prove that Musk intended to defraud them. The judge dismissed an insider trading claim...
Video credit: Wibbitz Top Stories
Published on October 3, 2023 - 01:31
X Social Media Is Suing X, Formerly Twitter
X Social Media , Is Suing X, Formerly Twitter.
Elon Musk rebranded Twitter to be
called X at the end of July 2023.
Now, a company called X Social Media LLC
is filing suit, The Verge reports.
According to the lawsuit filed on
Oct. 2, X Corp. has violated Florida
common law due to "unfair competition and
trademark and service mark infringement.".
X Social Media, which has continuously used its registered trademark since 2016.
claims to have โalready suffered loss in revenue that correlates with X Corp.โs
rebrand and use of the mark โX.โโ.
However, law professor Alexandra Roberts says,
โIn a crowded field with lots of โXโ trademarks,
it will be difficult to enforce against others.โ .
The argument that will enable Twitter/Musk to get protection for the mark will be the same argument that impedes aggressive enforcement, Alexandra Roberts, a professor of law and media
at Northeastern University, via The Verge.
There are thousands of single-letter trademark registrations; many, but not all, of them are more elaborately stylized than the one that now appears on the site formerly known as Twitter. , Alexandra Roberts, a professor of law and media
at Northeastern University, via The Verge.
Given the large user base on Twitter and
the number of people following and reporting on this rebrand, I expect it wouldnโt take very long to establish that the new โXโ functions
as a trademark and consumers associate
it with Twitterโs services or brand, Alexandra Roberts, a professor of law and media
at Northeastern University, via The Verge
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