Meta hit with trademark lawsuit by virtual reality firm

(Reuters) — Facebook owner Meta Platforms Inc. was hit with a trademark lawsuit in Manhattan federal court Tuesday by MetaX LLC, a company that creates immersive virtual reality experiences, for allegedly stealing its name.

New York-based MetaX told the court it had been “crushed” by Facebook's rebrand and said its “ability to operate as Meta has been eviscerated.”

It accused Meta Platforms of infringing its federal "Meta" trademarks and requested a court order that blocks the social media company from using "Meta" for goods and services that overlap with MetaX's as well as an unspecified amount of money damages.

Meta Platforms rebranded from its eponymous social networking platform in October 2021, betting that the metaverse, a shared virtual realm, will succeed mobile internet.

MetaX's founder, Justin “JB” Bolognino, said in a statement that Meta Platforms had “not only put our business in jeopardy, but that of the entire industry and the intellectual property rights of the innovators that have helped build it.”

Meta Platforms did not immediately respond to a request for comment.