CORRECTING and REPLACING Jibbitz, LLC Wins $1.8 Million Judgment for Intellectual Property Infringement
May 31 2007 - 6:44PM
Business Wire
Headline of release should read: Jibbitz, LLC Wins $1.8 Million
Judgment for Intellectual Property Infringement (sted Jibbitz, LLC
Wins $1.8 Million Judgment for Patent Infringement). Also, first
graph, first sentence should read:�Crocs, Inc. (NASDAQ: CROX)
announced today that its wholly owned subsidiary, Jibbitz, LLC,
prevailed in its Federal copyright and trademark infringement case
against defendant Joinworld Industrial & Trading Limited and
its principals (sted prevailed in its Federal patent infringement
case). The corrected release reads: JIBBITZ, LLC WINS $1.8 MILLION
JUDGMENT FOR INTELLECTUAL PROPERTY INFRINGEMENT Crocs, Inc.
(NASDAQ: CROX) announced today that its wholly owned subsidiary,
Jibbitz, LLC, prevailed in its Federal copyright and trademark
infringement case against defendant Joinworld Industrial &
Trading Limited and its principals. The Court awarded damages in
the amount of $1.8 million in addition to attorneys fees and other
costs. The United States District Court, District of Nevada found,
among other things, that Jibbitz has developed creative and
original designs for its shoe charms, Jibbitz owns all right, title
and interest in its shoe charm designs, including all copyright
rights therein, and the served defendants have a history of
infringing on Jibbitz copyrighted works, including offering more
than 60 infringing copies of certain copyrighted works for sale.
Jibbitz initially filed suit on this matter on January 29, 2007.
Ron Snyder, President and Chief Executive Officer of Crocs, Inc.,
commented, �We are gratified by the Court�s decision and
particularly pleased with its clear findings regarding the strength
of Jibbitz� copyrights. We are deeply committed to protecting our
intellectual property and trademarks, and we will continue to take
any necessary actions to defend our position in the marketplace.�
About Crocs, Inc: Crocs, Inc. is a rapidly growing designer,
manufacturer and retailer of footwear for men, women and children
under the Crocs� brand. All Crocs� brand shoes feature Crocs�
proprietary closed-cell resin, Croslite�, which represents a
substantial innovation in footwear. The Croslite� material enables
us to produce soft, comfortable, lightweight, superior-gripping,
non-marking and odor-resistant shoes. These unique elements make
Crocs� footwear ideal for casual wear, as well as for professional
and recreational uses such as boating, hiking, hospitality and
gardening. The versatile use of the material has enabled us to
successfully market our products to a broad range of consumers. In
2006, the company acquired Jibbitz, LLC, a unique accessory brand
with colorful snap-on products specifically suited for Crocs shoes.
Today, more than 1,100 Jibbitz designs are available to consumers
for personalizing and customizing their Crocs� footwear. Crocs� are
sold in more than 80 countries and come in a wide array of colors
and styles. Please visit www.crocs.com for additional information.
Crocs (NASDAQ:CROX)
Historical Stock Chart
From May 2024 to Jun 2024
Crocs (NASDAQ:CROX)
Historical Stock Chart
From Jun 2023 to Jun 2024