WEX Inc. Secures Preliminary Injunction Against HP

WEX Inc. Secures Preliminary Injunction Against HP

PORTLAND, Maine--WEX (NYSE: WEX), the global commerce platform that simplifies the business of running a business, has obtained a preliminary injunction to stop the infringing conduct of HP Inc. and Hewlett-Packard Development Company, L.P. (collectively, “HP”) and to protect the WEX brand.

Despite WEX’s decades of use of the WEX name, in March 2024, HP announced the launch of its own "WEX," a misappropriation of WEX's trademarks. WEX filed a federal lawsuit against HP on April 11, 2024, and moved for a preliminary injunction one day later. After hearing argument by the parties on July 1, 2024, Judge John A. Woodcock, Jr. of the United States District Court for the District of Maine issued an opinion on July 9, 2024 granting in full the preliminary injunction against HP that WEX requested.

As the Court held in ruling that WEX was likely to succeed on the merits of its claim that HP’s conduct infringed WEX’s trademarks, “the evidence favoring WEX is overwhelming.”

"We are pleased that the Court recognized that HP’s use of the 'WEX' name would inevitably cause confusion in the marketplace, and put a stop to HP’s infringing conduct,” said Sara Trickett, Chief Legal Officer at WEX. “WEX is committed to protecting the WEX brand and our customers from the confusion caused by HP’s actions. We look forward to obtaining a permanent injunction at trial.”

The opinion granting a preliminary injunction 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 the status of the aforementioned litigation and our ability to protect our intellectual property rights. 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 ultimate outcome of the aforementioned litigation, or remedies that could be awarded in connection with said litigation, including whether the court will issue a permanent injunction in WEX’s favor or whether HP will be successful on any appeal; 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.