Yuga Labs first filed a lawsuit in June 2022, accusing Ripps and Cahen of copying its Bored Ape Yacht Club cartoon ape images and selling lookalike NFTs.
Bored Ape Yacht Club creator Yuga Labs has settled its long-running lawsuit with a pair of artists accused of profiting off lookalike NFTs.
According to documents filed in the District Court for the Central District of California on Tuesday, Yuga Labs and artists Ryder Ripps and Jeremy Cahen told the court they had reached a settlement agreement.
As part of the settlement, Ripps and Cahen are permanently banned from using Yuga Lab’s imagery and trademarks and will transfer control of the smart contracts, domains and any remaining NFTs associated with their RR/BAYC project to Yuga Labs within the next 10 days.
