This certainly appears to be an overreach. However, facts are always good. In the solicitation letter:
First:
"It [Monster Energey Company] also requires us to drop the trademark applications that were pending at the time for said trademarks."
Later:
"As you know, we have been using our MonsterFishKeepers and the MonsterFishKeepers “M” design marks since March 30, 2005 and the marks were duly registered with the U.S. Patent and Trademark Office since October 23, 2007."
What mark apps were pending?
MonsterFishKeepers and MonsterM are trademarked on October 23, 2007 in Class 38, which is for on-line community forum.
We were expanding our trademarks into class 25, which is for apparel such as T-shirts. which is currently pending..