Columbia Sportswear Company Announces Settlement of Lawsuit Against Crocs, Inc.
PORTLAND, Ore.--(BUSINESS WIRE)-- Columbia Sportswear Company (Nasdaq:COLM), a leading innovator in active outdoor apparel, footwear, accessories and equipment, announced today that it has resolved its pending claims against Crocs, Inc. (Nasdaq:CROX) in Multnomah County Circuit Court in Portland, Oregon.
The case arose because Crocs hired a Columbia employee as an independent contractor while he was working for Columbia. Columbia alleged claims of misappropriation of trade secrets, intentional interference with contract, and aiding and abetting the employee's breach of his duty of loyalty to Columbia. The parties have settled all issues between them relating to the engagement of this employee and Columbia has dismissed all claims against Crocs in exchange for monetary and other considerations.
Crocs' Executive Vice President, Chief Legal and Administrative Officer, Daniel Hart, commented, "Crocs is pleased that we were able to resolve this dispute with Columbia. Crocs respects third party trade secrets, intellectual property and employment related obligations. We regret that Crocs retained a Columbia footwear designer to provide footwear design services to Crocs while he was also employed by Columbia."
Columbia's Senior Vice President of Legal and Corporate Affairs, Peter Bragdon, stated, "Columbia prides itself on talent, product design and innovation. We will continue to aggressively protect our intellectual property rights."
Columbia continues to pursue its separate claim in Multnomah County Circuit Court against Brian O'Boyle, the former employee who was retained by Crocs.
About Columbia Sportswear Company
Columbia Sportswear Company is a global leader in the design, sourcing, marketing and distribution of active outdoor apparel, footwear, accessories and equipment. Founded in 1938 in Portland, Oregon, Columbia products are sold in more than 100 countries and have earned an international reputation for innovation, quality and performance. Columbia products feature innovative technologies and designs that protect outdoor enthusiasts from the elements, increase comfort, and make outdoor activities more enjoyable. In addition to the Columbia brand, Columbia Sportswear Company also owns outdoor brands Mountain Hardwear(R), Sorel(R), Montrail(R), and Pacific Trail(R). To learn more, please visit the company's websites at www.columbia.com, www.mountainhardwear.com, www.sorel.com, and www.montrail.com.
Source: Columbia Sportswear Company
Released July 29, 2010