Nike lawsuit stockx

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By Victoria Song , a senior reporter focusing on wearables, health tech, and more with 11 years of experience. If you buy something from a Verge link, Vox Media may earn a commission. See our ethics statement. Now, StockX is hitting back. When Nike sued, it claimed the NFTs infringed on its trademarks and would be confusing to customers. Then, in an amended complaint , Nike said it bought four pairs of counterfeit shoes from December to February.

Nike lawsuit stockx

By subscribing, you agree to our Terms of Use and Privacy Policy. Towards the end of , events between Nike and StockX got heated as the two companies engage in an ongoing lawsuit. Nike was suing the reseller platform for allegedly selling counterfeit shoes and having an unreliable authentication process. As the Nike v. StockX legal saga continues, recent court documents have been unveiled, revealing that a reseller once received 38 pairs of fake Air Jordan 1 s from the platform. He bought many University Blue, Mocha, and Hyper Royal Jordan 1s on StockX when the market price had dropped with the intent of holding and flipping later. In the event of receiving 38 fake AJ1s, Nike visited that reseller in July to confirm that at least 38 pairs of shoes received by the customer from StockX had been fake. The customer has since returned all the pairs on StockX for a full refund. You can always resell the item on our platform if you no longer wish to keep it. This latest tactic amounts to nothing more than a panicked and desperate attempt to resuscitate its losing legal case against our innovative Vault NFT program that revolutionizes the way that consumers can buy, store, and sell collectibles safely, efficiently, and sustainably. Take a look at the court document below.

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Online resale marketplace StockX is hitting back at Nike 's claims that the site has been allowing sales of counterfeit versions of its sneakers. StockX, in a response to Nike's allegations, defended its anti-counterfeiting measures and said Nike itself had previously praised them, according to a draft of a court filing seen by CNBC. The response is set to be filed in U. Nike and an attorney who has represented Nike in this case did not immediately respond to a request for comment. The legal battle between Nike and StockX started over non-fungible tokens, or NFTs, which are unique digital assets that consumers can buy and sell. Nike, which had been preparing for its entry into the so-called metaverse for several months , started selling its own NFTs earlier this year, reaping huge sums. StockX has argued it uses NFTs to track ownership of physical products as well as to increase efficiency and decrease costs for its customers.

Nike is accusing StockX of selling look-alike versions of its shoes and wants a federal judge to force the online marketplace to remove the alleged knockoffs from its website. The athletic apparel giant is already in the middle of another legal battle with StockX involving a trademark infringement case filed in New York earlier this year. The suit claims StockX is capitalizing on Nike's brand without permission to sell its own products. Lawyers for Nike have argued that StockX should be prohibited from selling shoes — digital or otherwise — with a design the public associates with Nike without the brand's permission. Nike lawyers filed an additional claim this week against StockX, alleging there are fake Nikes on the StockX website. After the lawsuit was filed, StockX removed the authenticity text from the product description but kept selling the same NFT shoe, Nike lawyers argued.

Nike lawsuit stockx

Online resale marketplace StockX is hitting back at Nike 's claims that the site has been allowing sales of counterfeit versions of its sneakers. StockX, in a response to Nike's allegations, defended its anti-counterfeiting measures and said Nike itself had previously praised them, according to a draft of a court filing seen by CNBC. The response is set to be filed in U. Nike and an attorney who has represented Nike in this case did not immediately respond to a request for comment. The legal battle between Nike and StockX started over non-fungible tokens, or NFTs, which are unique digital assets that consumers can buy and sell. Nike, which had been preparing for its entry into the so-called metaverse for several months , started selling its own NFTs earlier this year, reaping huge sums. StockX has argued it uses NFTs to track ownership of physical products as well as to increase efficiency and decrease costs for its customers.

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That was a pretty successful strategy up until all these consignment stores started going belly up and now that strategy no longer exists. Towards the end of , events between Nike and StockX got heated as the two companies engage in an ongoing lawsuit. Foot Health. Basically, yes. Related Stories. Executive Moves. The sportswear giant confirmed 38 pairs of Air Jordan 1s sold to Kim in spring were counterfeit. Key Points. They know all that information. The Chicago designer puts his spin on the I bought around ish, I think it was 62 pairs of those three SKUs specifically. More from Footwear News. Search for: Search Icon.

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Skip to main content The Verge The Verge logo. Especially as a reseller, too, because that has downstream effects. Investing Club. Ian Servantes. I felt the value of that shoe was under-market so I bought these. PMC Logo. StockX legal saga continues, recent court documents have been unveiled, revealing that a reseller once received 38 pairs of fake Air Jordan 1 s from the platform. Contact Us. That was a pretty successful strategy up until all these consignment stores started going belly up and now that strategy no longer exists. Take a look at the court document below. Celebrity Style.