Meta Platforms Hit by Trademark Suit From Metacapital Management

Meta Platforms Inc.'s rebrand from Facebook infringes the trademark of investment advisory service Metacapital Management LP, a lawsuit filed Wednesday in New York federal court said.

Metacapital, founded in 2001, is demanding at least $60 million in damages, the same amount that Meta Platforms paid to buy the trademark of a regional bank called Meta Financial Group.

The complaint said Meta Platforms, as part of its rebranding effort in October 2021, undertook “deliberate, concerted steps” to connect the new name with the financial services industry, which will cause consumers to confuse Meta Platforms and Metacapital.

Meta Platforms said it will ...