The band are told they have no rights over "Banana'' image
The Guardian reports that a judge in New York has ruled against the art rock pioneers in a lawsuit they filed against the Andy Warhol Foundation to try to prevent the usage of the famous image on merchandising.
The judge has said that they do not have any copyright claims over the image but they may continue pursuing the Andy Warhol Foundation for the Visual Arts for trademark infringement.
The band had argued that the banana had become a "symbol" for the band and they had demanded that the Warhol organization stop licensing the image for use on merchandise and pay them for all past licensing deals.
The Andy Warhol Foundation argue that trademarks are only relevant if they are linked to ongoing businesses, and that as Velvet Underground split in 1972 the current claim from the band is irrelevant.