The Complainant owns the PYRAMYD AIR trademark, registered for use in association with retail online services featuring air guns among other goods. The Domain Name resolved to the canadashootingsupply.ca website, operated by a competitor. The parties exchanged correspondence in 2017, and the Registrant stated that the Domain Name "was purchased intentionally and is not for sale to help protect our business from future competition threat from large company like Pyramydair".
The Panel found that the Domain Name was registered in bad faith, in part because the parties are competitors and consumers seeking the Complainant's products may do their online shopping on the website, which would have the effect of disrupting the Complainant's business.
You can read the decision here.