Velvet Underground, Andy Warhol Lawsuit Over Iconic Banana Cover Art Settled

The Velvet Underground's 1967 album The Velvet Underground & Nico famously features a banana cover that was designed by Andy Warhol. Over the last several years, there has been a legal dispute over who owns the rights to that image. The parties finally settled today, according to the BBC, though no settlement amount was disclosed.

The Warhol Foundation, established in the late artist's will, took control of all of Warhol's copyrights in 1987. They licensed the banana image for a line of iPhone cases.

The Velvet Underground sued the Warhol Foundation, claiming copyright infringement. The band believed that the banana had become a symbol that represented them. However, that claim was denied by a federal judge in September. The ruling did not make clear who owned the copyright.

Had a settlement not been reached between the two parties, the case would have gone t o trial on July 29.

The Velvelt Underground was formed in the mid-60s by Lou Reed and John Cale. In addition to designing the cover art for the band's most famous album, Warhol served as the group's manager and producer. The band served as Warhol's house band at The Factory and is considered one of the most influential acts of the era.

"The first Velvet Underground record sold 30,000 copies in the first five years," said Brian Eno in an interview with Musician. "I think everyone who bought one of those 30,000 copies started a band!"

What do you think? Who has the right to claim Andy Warhol's banana cover?