PEI Licensing Sues Pudgy Penguins NFT Brand for Trademark Infringement

PEI Licensing, the owner of the Penguin apparel brand, has filed a lawsuit against the Pudgy Penguins NFT brand, alleging trademark infringement. According to NS3.AI, the legal action follows a retail initiative by the NFT project, which resulted in the sale of over one million toys and the launch of apparel products. PEI Licensing claims that Pudgy Penguins disregarded a cease-and-desist letter issued in October 2023, leading to the dilution of the Penguin brand's value, which has been established since 1955. The company is seeking monetary damages, including all profits from the contested sales, and has requested a jury trial.