Metacaptial Management L.P. filed a complaint against Meta Platforms Inc., alleging the newly renamed Facebook parent company of trademark infringement, unfair competition, and false advertising.
According to the complaint, Metacapital’s action is a response to Meta’s disregard of Metacapital’s trademark rights; the plaintiff has held the Metacapital trademark as well as used the Meta nickname since 2001. Facebook announced their name change to “Meta” on October 28, 2021, 20 years after Metacapital’s trademark registration, the complaint recounts.
The complaint claims that in 2019 and 2020, Facebook began to create and operate a financial services center, “Meta Financial Technologies.”
The complaint states, “Facebook’s use of the ‘Meta’ mark in connection with financial services — and clear plans to continue and expand such use in connection with these and similar services — is likely to cause significant harm to Metacapital’s business.”
The complaint asserts that Facebook’s trademark infringement on Metacapital caused and continues to cause substantial reputable and financial harm to the plaintiff.
The plaintiff seeks the following for relief: a declaration Meta has committed trademark infringement, a preliminary and permanent injunction against the defendant barring them from using the “Meta” name associated with the plaintiff, and awards of all pertinent damages.
The plaintiff is represented by Skadden, Arps, Slate, Meagher, and Flom LLP.