Alibaba failed to convince a federal judge that he had jurisdiction in a trademark case. REUTERS
A federal judge has rejected a trademark complaint by e-commerce giant Alibaba against cryptocurrency firm Alibabacoin Foundation over the similarity of their names.
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Judge Paul Oetken ruled that Alibaba failed to show that the U.S. District Court for the Southern District of New York has jurisdiction over Dubai-based Alibabacoin, CoinDesk reported, citing court documents.
Alibaba alleged in a lawsuit filed in April that Alibabacoin was trying to mislead investors by implying that the e-commerce company was involved with the cryptocurrency firm.
Alibabacoin has maintained that the character Ali Baba from “Arabian Nights” is the inspiration for its name, not the e-commerce company, as Cointelegraph reported.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| BABA | ALIBABA GROUP HOLDING LTD | 181.45 | +1.95 | +1.09% |
The e-commerce company has said misuse of its name helped Alibabacoin to raise more than $3.5 million in an initial coin offering.
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Alibaba hadn’t immediately responded to a request for comment from FOX Business at the time of publication.
