AGL Energy (ASX:AGL) loses Federal Court battle against Greenpeace

One of those times when David beats Goliath.
The post AGL Energy (ASX:AGL) loses Federal Court battle against Greenpeace appeared first on The Motley Fool Australia. –

AGL Energy Limited (ASX: AGL) shares were in the red for most of today, rallying to finish the day higher just before the market closed. At the end of trade, the AGL share price was sitting at $9.16 – 0.11% higher than yesterday. The S&P/ASX 200 Index (ASX: XJO) also had a lacklustre day, falling by 0.31%.

The struggling AGL share price came as the energy provider’s Federal Court loss against Greenpeace Australia Pacific hit headlines.

Let’s take a look at AGL’s claims against Greenpeace and the Federal Court’s ruling.

Court rules for Greenpeace

AGL took Greenpeace to court after the climate-focused charity organisation began a campaign against the energy provider. AGL claimed Greenpeace broke copyright laws by using a logo “substantially identical” to AGL’s trademarked and copyrighted logo.

AGL sought an injunction on Greenpeace’s use of its logo and damages caused by the alleged infringement.

Justice Stephen Burley ruled in Greenpeace’s favour late yesterday afternoon.

Greenpeace used a doctored version of AGL’s logo on online banners, street posters, Greenpeace’s parody website, and protest placards, in a campaign against the energy company.

We’re here on the steps of the Federal Court in Sydney to defend our campaign materials calling out AGL as Australia’s largest climate polluter. #auspol #ClimateAction

— Greenpeace Australia Pacific (@GreenpeaceAP) June 1, 2021

Greenpeace claimed it didn’t break copyright law as it used AGL’s logo’s likeness for parody and satire – which is protected under Australian law. Greenpeace also argued it didn’t commercially benefit from its use of the similar logo.

AGL refuted this, saying Greenpeace used its logo to disseminate information and pressure the company to change its operations.

Justice Stephen Burley ruled that, except for three social media posts, Greenpeace’s use of the logo was justified. He denied AGL’s request for damages. Justice Burley’s ruling stated:

Copyright protects the owner’s interest in the artistic work, it does not provide a mechanism for protecting a copyright owner’s reputation…

Although the ultimate purpose of the Greenpeace campaign is to bring about a change in AGL’s environmental conduct, the satirical message in the impugned materials has only the effect of drawing viewers into the debate about AGL’s environmental impact…

It is not the use of AGL’s logo in the campaign that causes damage, but rather the informational message.

Greenpeace says it will continue to challenge the company to close its coal-burning power stations by 2030.

AGL share price snapshot

2021 has been a tough year for AGL shares.

Currently, the AGL share price is 23.35% lower than it was at the start of this year. It has also fallen 49.25% since this time last year.

The energy company has a market capitalisation of around $5.7 billion, with approximately 623 million shares outstanding.

The post AGL Energy (ASX:AGL) loses Federal Court battle against Greenpeace appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Mercury (ASX:MCY) share price falls after earnings downgrade
2 ASX shares that brokers reckon might be dividend traps

The AGL Energy (ASX:AGL) old dog with green new tricks
ASX 200 Weekly Wrap: ASX hits 7,300 points for the first time

The 10 ASX dividend shares delivering the highest yields

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!