US judge reminds Bank of China that it faces a $50,000 daily fine in TM row

A US judge has reminded the Bank of China that it still faces a $50,000 daily fine for failure to disclose information regarding customers allegedly selling counterfeit luxury goods, after the Second Circuit refused to pause sanctions pending an appeal. As we noted last month, this stems from a 2010 lawsuit by a group of luxury retailers, including Gucci and Yves Saint Laurent, who sued a group of Chinese companies for allegedly selling counterfeit goods, such as handbags. They asked a US judge to order the Bank of China to pay $12m to cover their losses from counterfeiting or impose a fine.

By Christine Powell (January 14, 2016, 8:44 PM EST) -- A New York federal judge warned the Bank of China on Wednesday that it faces a $50,000 daily fine for failure to disclose information about customers allegedly selling counterfeit luxury goods, after the Second Circuit refused to pause sanctions pending appeal....

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