News: Yikes! Jay-Z Being Sued For $600 Million Over Brooklyn Nets Logo

Jay Z and others are being sued for $600 million in damages over the Brooklyn Nets' trademark, as RadarOnline reports. (Last year, Jay Z announced that he'd sell his shares of both the Nets and their home, Brooklyn's Barclays Center.)
The plaintiff is Dr. Francois de Cassagnol, who "claims that he trademarked the name 'Brooklyn Nets' long before the NBA team ever moved out of New Jersey," according to Radar. He claims that Jay Z, the NBA, and developer Bruce Ratner "fraudulently conspired" to use "loopholes" to get a patent for the team name even though he registered it over 10 years ago, according to court documents. Radar has the documents here.
De Cassagnol is seeking a share of the team's value, which has increased significantly since they moved from New Jersey to Brooklyn in 2012. He filed December 9 with the Eastern District of the State of New York and is seeking a juried trial.
According to Radar, the Patent Office previously ruled that the plaintiff's trademark application was filed "long after reports emerged about [the Nets] moving to Brooklyn" and that "none of the described uses of his Brooklyn Nets businesses were significant enough to overrule the NBA's federal trademark application."