The Velvet Underground v. The Andy Warhol Foundation for the Visual Arts, Inc., No. 1:2012cv00201 - Document 30 (S.D.N.Y. 2012)

Court Description: OPINION AND ORDER: Because this Court concludes that the covenant not to sue eliminated any justiciable controversy between the parties over copyright in the Banana Design, VU's claim for declaratory judgment is DISMISSED without prejudice. By e liminating any immediate, realistic prospect of injury to VU from the Warhol Foundation's asserted copyright, the Warhol Foundation's Covenant Not to Sue has also eliminated any live controversy under Article III. VU's claim for a declaratory judgment that the Warhol Foundation has no copyright rights in the Banana Design is therefore DISMISSED without prejudice. (Signed by Judge Alison J. Nathan on 9/7/2012) Copies Sent By Chambers. (jfe)