Judge Dismisses Pepperdine Trademark Suit Against Netflix, Warner Bros Over 'Running Point' Series
NFLX sits 27% above its 52-week low of $75.01.
Summary
A federal judge has dismissed a trademark infringement lawsuit filed by Pepperdine University against Netflix and Warner Bros. Discovery concerning their basketball comedy series 'Running Point'. The judge ruled that the show's use of 'Waves' branding for its fictional team was protected by the First Amendment and did not mislead viewers. This is a positive development for Netflix and Warner Bros. Discovery, as it removes a legal overhang and potential risk associated with the series, clearing the path for its continued distribution, including the upcoming second season. While Pepperdine was granted permission to amend its complaint, the initial dismissal is a favorable outcome for the companies.
At the time of this announcement, NFLX was trading at $95.41 on NASDAQ in the Technology sector, with a market capitalization of approximately $403.4B. The 52-week trading range was $75.01 to $134.12. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.