01:39 PM EDT, 07/10/2024 (MT Newswires) -- WEX (WEX) said Wednesday it obtained a preliminary injunction to stop HP (HPQ) and Hewlett-Packard Development from using the "WEX" name.

The company said Judge John Woodcock Jr. of the US District Court for the District of Maine granted the injunction Tuesday, saying WEX "would suffer irreparable harm" without an injunction because HP is launching its WEX platform before the case goes to trial.

"The Court determines the plaintiff is likely to succeed on the merits because the marks at issue are nearly identical, the products are similar, the parties use the same marketing terms to promote the products, the plaintiff's marks are strong, and the plaintiff has put forth convincing evidence of actual confusion," the court stated.

WEX Chief Legal Officer Sara Trickett said the company is looking to obtain a permanent injunction at trial.

HP did not immediately respond to MT Newswires' request for comment.

Shares of WEX were down 1.6% in recent trading, while HP shares were up 1.7%.

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