eToro Faces Lawsuit for Copyright Infringement
eToro is a brokerage firm offering social trading and multi-asset trading services including cryptocurrencies, stocks, ETFs, currencies, indices, and commodities. It has offices in Cyprus, Israel, United Kingdom, United States, and Australia. The company operates in 140 countries and has over 11 million users.
Handsome Music has filed a copyright infringement complaint against eToro USA, accusing eToro of using its music works without permission on YouTube ad. eToro has posted a YouTube ad starring the famous actor Alec Baldwin, titled “Too Busy to Trade on Your Own? Discover Copy Trading on eToroTM”. According to the Plaintiff, this ad features Long Gaze’s Music in the background.
The plaintiffs said:
“Defendants have infringed Plaintiff’s copyrights in the “Long Gaze” musical work in violation of the Copyright Act, 17 USC. §§ 106 and 501, by reproducing the work in Defendants’ commercial without the consent, approval or license of Plaintiff, and also by continuing to distribute, display and copy the material publicly online and through advertising without the consent, approval, or license of Plaintiff.”
Plaintiffs are seeking to claim eToro’s profits, attorney’s fees, and full costs resulting from the infringement. Handsome Music also said:
“Plaintiff believes avers that unless enjoined and restrained by this Court, Defendants will continue to infringe Plaintiff’s rights in the “Long Gaze” musical work. Plaintiff is also entitled to preliminary and permanent injunctive relief to restrain and enjoin Defendants’ continuing infringing conduct.”