Nike To Add Counterfeiting Claims, False Advertising To Its Law Suit Against StockX

  • Nike, Inc NKE asked a federal judge to let it add counterfeiting claims and false advertising to the current trademark-infringement lawsuit against sneaker marketplace StockX, Bloomberg reports.
  • Nike prosecuted StockX in February in federal court in Manhattan for “blatantly freeriding” on Nike’s trademarks and goodwill with a service called Vault NFTs. 
  • StockX argued that its NFTs were simply listings for physical sneakers stored in its vault and can be traded by users.
  • Nike purchased four pairs of counterfeit shoes on the StockX platform despite its promises of marketing authentic footwear.
  • “Those four pairs of counterfeit shoes were all purchased within a short two-month period on StockX’s platform, all had affixed to them StockX’s ‘Verified Authentic’ hangtag, and all came with a paper receipt from StockX in the shoe box stating that the condition of the shoes is ‘100% Authentic,’” Nike said.
  • Price Action: NKE shares traded higher by 1.38% at $111 in the premarket on the last check Wednesday.
  • Photo via Wikimedia Commons
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