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.
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