NEW YORK (RPRN) 7/10/2009Â â€“ Laugh Factory, Inc., Jamie Masada, Times Square Arts Center and Richard Basciano recently announced that they have reached an agreement, resolving a lawsuit that claimed Times Square Arts Center and Richard Basciano infringed the Laugh Factory trademark and logo.
In the lawsuit, originally filed on February 28, 2008 in the United States District Court for the Southern District of New York, the Laugh Factory sought damages and injunctive relief for infringement of the Laugh Factory trademark and logo.
Basciano and the Times Square Arts Center filed counterclaims against Masada and the Laugh Factory.
In connection with the settlement, Jamie Masada has withdrawn allegations made in the lawsuit and apologizes for the misunderstandings that led to the amended complaint.
Richard Basciano has withdrawn the allegations in the counterclaims and regrets the misunderstandings that led to the partiesâ€™ dispute.
Richard Basciano said, â€œWe are extremely pleased to have resolved our litigation with Jamie Masada and the Laugh Factory.â€
Jamie Masada, president of the Laugh Factory, Inc., said, â€œWe are pleased we were able to reach an amicable settlement. Mr. Masada wishes Mr. Basciano all the best in his future endeavors.â€
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