Following the court’s denial of VPX’s request to overturn the judgment of $214.8 million, VPX decided to appeal the decision to the 8th U.S. Circuit Court of Appeals. And it was initially agreed that Bang would pay Orange Bang and Monster 5% of net sales through an arbitration award.
Both rulings were some of the largest trademark infringement awards in US history.
One Bang after another
On February 17, VPX initiated a lawsuit in bankruptcy court against Orange Bang and Monster Energy. The purpose of the lawsuit was to ensure that any potential buyer of Bang Energy would be bound by the arbitration award between VPX and Monster Energy. As per the current agreement, VPX can continue using the Bang Energy trademarks by paying Monster Energy 5% of net sales.
VPX was hoping that any prospective buyer of the company would be willing to maintain the 5% arrangement in an effort to retain access to the valuable Bang Energy trademarks.
At the time of its October 2022 Chapter 11 filing, the company had 1,103 employees and $581 million in assets.
