October 1, 2022

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Jack In The Box Files Lawsuit Against FTX Crypto Exchange

Jack in the Box, a US fast-food restaurant chain that was founded in 1951, recently...

Jack in the Box, a US fast-food restaurant chain that was founded in 1951, recently filed a lawsuit against the FTX crypto exchange. The lawsuit has to do with FTX’s mascot, which the fast-food chain claims was copied from the iconic Jack mascot. 

Details Of The Lawsuit

According to a document published by Law 360, Jack in the Box has filed a lawsuit in California federal court. The lawsuit accuses FTX exchange of making an inferior copy of the Jack mascot and renaming it “Moon Man.” According to the lawsuit, Jack in Box alleges that the CEO of FTX, Sam Bankman-Fried gained most of his $26.5 billion net worth due to the advertorial impact of “Moon Man.”

On October 15, Jack in the Box issued a cease and desist letter to FTX, to show how serious they were about the issue. However, FTX responded by claiming that Jack in the Box only has narrow protection limited to the ping pong-headed clown that “exploded out of a box to sell burgers.”

In the lawsuit, Jack in the Box states their mascot was created in 1951 and went through several changes, including a terrifying “Jack the Clown” phase. Eventually, the company settled on the more recognizable version used today in 1955. The fast-food restaurant chain said that it had a common-law trademark over Jack that includes, the large spherical white head, the nose, and curvy smile.

The FTX Moon Man, on his part, has a more recent past. The company launched the mascot in 2019. Since then, they have used Moon Man in various ads that include some in Major League baseball games. There was even a live version of the mascot that was spotted at the Dodger Stadium during the National League wild-card game.

What Does Jack In The Box Want?

According to Jack in the Box, the two mascots are similar, which has even confused some social media users. As a result, the fast-food restaurant chain claims that its name has been tarnished amongst its customers. In its lawsuit, Jack in the Box site an example of a tweet, in which a user claims that it looks like the Jack mascot with skin cancer. The lawsuit cites another example where a user states that the Moon Man looks like “Jack in the Box’s drugged up cousin.”

For this infringement, Jack in the Box is seeking unspecified damages on seven causes of action. Thus far, both companies have not issued a statement regarding the lawsuit. However, it is difficult to see how it plays out since the two operate in vastly different sectors. One would think there would be little correlation between where people buy their food and their crypto.

If the lawsuit does get thrown out, it could have helped to earn FTX some free publicity. If Jack in the Box wins, it could end up costing FTX a lot and possibly force it to scale back its operations.

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Source: visionary-finance.com