Media Contacts

 

AIMR Obtains Favorable Ruling in Trademark Infringement Suit

 

 

CHARLOTTESVILLE, VA, November 10, 1998 − AIMR and ICFA filed a trademark infringement suit against the so-called "ICFAI" or "Institute of Chartered Financial Analysts of India" (the "Indian Organization") in the Eastern District of Virginia in July 1998. This suit was filed as a result of the unauthorized use of the CFA, Chartered Financial Analyst, and other AIMR/ICFA trademarks by the Indian Organization. AIMR and ICFA have also filed suit against the Indian Organization in New Delhi, India.

 

On October 7, 1998, the Court granted AIMR/ICFA's motion for default judgment and entered judgment against the Indian Organization. In its Order and Findings of Fact and Conclusions of Law, the Court granted all of the relief sought by AIMR/ICFA.

 

In summary, the Court's order provides that the Indian Organization and those doing business with it cannot: i) use the CFA and Chartered Financial Analyst marks and associated marks in the United States and Canada; ii) offer any educational program in the US and Canada that uses the CFA marks; iii) use or promote outside the US and Canada any internet web page accessible in the US and Canada that uses the CFA marks; and iv) promote employment opportunities for its "charterholders" in the US and Canada.

 

Furthermore, the Court ordered the Indian Organization to: i) notify all of its business partners in the US and Canada that it is not affiliated with AIMR/ICFA and that the CFA marks are owned by AIMR/ICFA; and ii) inform its "charterholders" that they cannot use their "charter" or "CFA" designation in the US and Canada. Finally, the Court ruled that the Indian Organization must pay AIMR/ICFA's court costs and attorneys fees associated with the motion for default judgment.

 

This ruling, which recognizes AIMR/ICFA as the owner of the CFA marks, significantly reinforces the rights of AIMR and ICFA in these trademarks and demonstrates AIMR/ICFA's commitment to its interests, those of its charterholders, and those of the investing public. As AIMR and ICFA continue to register the CFA marks around the world and continue to enforce their trademark rights against infringers such as the Indian Organization, this order will be a powerful tool in that effort.

 

If you become aware of any unauthorized use of the CFA marks, or any other marks owned by AIMR, please contact AIMR’s Office of General Counsel, phone: 434-951-5470, fax: 434-951-5560, e-mail: trademark@cfainstitute.org.