PORTLAND, Maine, April 11,
2024 /PRNewswire/ -- WEX (NYSE: WEX), the global
commerce platform that simplifies the business of running a
business, has filed a federal lawsuit against HP Inc. and
Hewlett-Packard Development Company, L.P. for infringing its
trademarks.
According to the lawsuit, WEX has created a powerful
ecosystem that offers seamlessly embedded, personalized solutions
for its customers around the world. Through its rich data and
specialized expertise in simplifying benefits, reimagining
mobility, and facilitating paying and getting paid, WEX aims to
make it easy for companies to overcome complexity and reach their
full potential. These services are offered under WEX's well-known
and distinctive WEX family of trademarks.
On March 7, 2024, HP announced the
launch of its own "WEX," a misappropriation of WEX's trademarks.
Like WEX's platform offerings, HP's "WEX" is a platform that aims
to supply businesses with innovative solutions to their everyday
workforce problems. HP's "WEX" is marketing to a similar customer
base as WEX, which is inevitably causing confusion in the
marketplace. Both WEX and HP's "WEX" are promoting their respective
software as being customer-driven, providing data, assisting in
fleet management, increasing productivity, utilizing AI, and
reducing friction.
"WEX is a globally recognized company that has developed a
platform to manage complex logistical challenges for businesses
worldwide. HP's use of the "WEX" name will inevitably sow confusion
in the marketplace," said Jessica
Roy, Vice President of Financial Communications at WEX.
"Given the similarities between the software, fleet and data
management, and employee solutions offered by WEX on the one hand,
and the "WEX"-branded software, fleet and data management, and
employee solutions offered by HP on the other, combined with the
overlapping worldwide footprint of both companies, confusion
between the two WEX offerings is inevitable—and is already
beginning to materialize. We have filed this action to prevent harm
to our brand."
WEX has been using the name WEX since 1989 and formally
rebranded to WEX in 2012. It holds several federally registered
trademarks for WEX, covering software-as-a-service (SaaS). WEX
holds five incontestable trademark registrations protecting use of
the WEX name for services that HP's "WEX" is attempting to mirror,
claiming services in the same classes as the registered WEX
trademarks.
WEX tried to resolve this dispute amicably, but HP refused to
stop its use of the WEX name. WEX was therefore forced to file this
lawsuit. WEX intends to seek a preliminary injunction to force HP
to immediately discontinue all further infringement of the WEX
trademark.
"This case is about protecting WEX's global brand and its
longstanding trademark rights," said Megan
K. Bannigan, Partner at Debevoise & Plimpton and counsel
to WEX. "HP's use of the "WEX" name is already beginning to create
confusion in the marketplace and will lead customers to believe
that HP is either partnering with or has acquired WEX's widely
respected platform and software know-how to market HP's new
services. WEX and its customers deserve protection from the
confusion HP's actions will cause."
The complaint can be viewed here.
WEX Inc. is represented by Megan
Bannigan, David Bernstein,
Christopher Ford, Nicole Flores, and Kendra Berry of Debevoise & Plimpton LLP and
Gavin McCarthy and Nolan Reichl of Pierce Atwood LLP.
About WEX
WEX (NYSE: WEX) is the global commerce
platform that simplifies the business of running a business. WEX
has created a powerful ecosystem that offers seamlessly embedded,
personalized solutions for its customers around the world. Through
its rich data and specialized expertise in simplifying benefits,
reimagining mobility, and paying and getting paid, WEX aims to make
it easy for companies to overcome complexity and reach their full
potential. For more information, please visit www.wexinc.com.
Forward-Looking Statements
This press release
contains forward-looking statements including, but not limited to,
statements concerning our expectations, anticipations, intentions,
beliefs, or strategies regarding the future. Any statements in this
press release that are not statements of historical facts are
forward-looking statements. When used in this press release, the
words "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "project," "will," "positions,"
"confidence," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain such words. These forward-looking statements are
based on assumptions that we have made as of the date hereof and
are subject to known and unknown risks and uncertainties that could
cause actual results, conditions, and events to differ materially
from those anticipated. For example, there can be no assurance as
to the outcome of the litigation, or remedies that could be awarded
in connection with the litigation; our ability to establish or
maintain our intellectual property and other proprietary rights;
our business, IP, or legal strategies. Therefore, you should not
place undue reliance on forward-looking statements. Other risks and
uncertainties identified in Item 1A of WEX's Annual Report on Form
10-K for the year ended December 31,
2023, filed with the Securities and Exchange Commission on
February 23, 2024, and subsequent
filings with the Securities and Exchange Commission may also affect
our forward-looking statements. WEX disclaims any obligation to
update any forward-looking statements as a result of new
information, future events, or otherwise.
Contact:
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Baro Strategies -
Chris Bastardi
|
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cbastardi@barostrategies.com
|
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917-484-1587
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SOURCE WEX