Basis Tech says court rules in its favor in Amazon.com lawsuit
Jan 11 (Reuters) - Basis Technology said an appeals court ruled in its favor in a lawsuit related to the set-up of online retailer Amazon.com Inc's (AMZN.O: Quotazione) Japan subsidiary and its Japanese e-commerce site, Amazon.co.jp.
The appeals court of Massachusetts ruled that Basis Technology can resume use of the Amazon.com name and logo in its promotional materials. Basis Technology will also receive additional monetary compensation, it said in a statement.
Amazon.com, which was an early investor in the private firm, will have to relinquish its seat on Basis Technology's board and give up all rights as a preferred shareholder, Basis Technology said. (Reporting by Varsha Tickoo in Bangalore)
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