Australia's Zip falls after court rules against co in trademark infringement claim

Zip Co

02/04/2025 01:54

** Shares of Zip Co ZIP.AX fall as much as 6.3% to A$1.555, their lowest level since early July, 2024

** Digital retail finance and payments provider says Federal Court has ruled in favour of Firstmac Limited in its trademark infringement claim against Zip in Australia

** Co intends to lodge an application for special leave to appeal the court decision

** Says, pending further court decisions, there is no disruption to Zip’s Australian operations

** Stock down nearly 50% so far this year

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com))