Skechers U.S.A (SKX) and LL Bean agreed to a settlement in which LL Bean agreed to stop selling shoes which allegedly infringed on Skechers' designs, Reuters reported late Thursday, citing court documents.
Skechers accused the privately held outdoor clothing and gear company in a lawsuit filed in July of selling a line of shoes that copied its own shoes, the report said.
A US court approved on Thursday an injunction forbidding LL Bean from making, importing or selling shoes allegedly violating Skechers heel cup shoe designs until the patents expire in 2038, the report said.
Skechers and LL Bean did not immediately reply to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.