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The Briefcase: Truliant, Truist trademark lawsuit is closed
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The Briefcase: Truliant, Truist trademark lawsuit is closed

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Truliant, Truist trademark lawsuit is closed

A contentious trademark-infringement lawsuit involving Truliant Federal Credit Union and Truist Financial Corp. has been closed, according to a filing with the U.S. District Court for the Middle District of N.C.

The lawsuit was closed Aug. 6, the day after the financial institutions agreed to dismiss their claims. Stipulations for the lawsuit dismissal are due to the court by Thursday.

The respective claims were dismissed with prejudice, which means that they can’t be refiled. Truist and Truliant each agreed to “bear its own costs and attorneys’ fees.”

Truliant filed the complaint June 17, 2019, against BB&T Corp. and SunTrust Banks Inc. — five days after the banks announced Truist as their future brand name.

BB&T spent $33.5 billion to buy SunTrust with legacy BB&T shareholders owning 57% of Truist. The deal was completed Dec. 6.

Truliant wanted any Truist-branded products to be destroyed. Truliant also wanted to be awarded any profits made via the Truist brand as compensatory monetary damages and was requesting punitive damages.

Richard Craver

Chicago group spends $2 million on Cracker Barrel site

Cracker Barrel Old Country Store Inc. has sold its Clemmons restaurant property to a Chicago commercial real-estate group for $2.04 million, according to a Forsyth County Register of Deeds filing Monday.

The buyer of the three-acre property at 6420 Sessions Court is Oak Street Real Estate Capital LLC.

Richard Craver

Williams Development buys Greensboro property

An affiliate of Williams Development Group of Winston-Salem has spent $3.5 million to purchase a vacant 136.9-acre parcel in Greensboro, according to a Guilford County Register of Deeds filing Friday.

The property is at 3921 Presbyterian Road.

The seller is S&S Properties of East Bend.

Richard Craver

Primo Water buys Mountain Glacier

Primo Water Corp. announced Monday its first acquisition since being sold in March, buying family-owned Mountain Glacier LLC for an undisclosed price.

Mountain Glacier is based in Evansville, Ind., and has been serving residential and commercial customers since its founding in 2006.

Its main markets are in Indiana, Nashville, Tenn., and Harlingen, Texas, with a combined 2,500 customers.

As part of the transaction, Primo is bringing its Crystal Spring brand into the Nashville market, while it will use the Sparkletts brand in Harlingen. Mountain sells premium water products, such as Mountain Valley Spring, and sparkling water beverages under the Sparkling Ice brand.

Technology company pays $1.95M for Indiana Avenue site

A Winston-Salem technology company has spent $1.95 million to purchase a building and a 2.64-acre lot at 4960 Indiana Ave., according to a Forsyth County Register of Deeds filing Friday.

The buyer is Perimeter Point Properties LLC, which has the same address as Traffic Control Safety Services Inc.

The seller is the A. Tab Williams Jr. Revocable Trust. The building is listed under Wilco Hess LLC.

Richard Craver

Downtown Winston-Salem lots sell for $625,000

A Winston-Salem group has paid $625,000 to purchase the lots at 300 and 308 S. Marshall St. in Winston-Salem, according to a Forsyth County Register of Deeds filing Friday.

The buyer is Brookstown Capital LLC, and the seller is East Coast Capital Partners, also of Winston-Salem. The property consists of 0.56 acres.

Richard Craver

Richard Craver

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