Crocs subsidiary wins copyright lawsuit
Crocs (Nasdaq: CROX) said its Jibbitz subsidiary won a federal copyright and trademark infringement cast against a number of Chinese shoe companies. Jibbitz won the verdict against Jinjiang Huakai Shoes and Garments Co. Ltd., Jinjiang Jiaxing Shoes and Garments Co. Ltd. and Yuanhui Chen.
The company said the U.S. District Court in Nevada granted an injunction barring sales of infringing products by the defendants and awarded damages of $56 million in addition to attorney fees and other costs. Crocs said the court also found that Jibbitz owns all rights, title and interest in its shoe charm designs.
This was the second judgment in favor of Jibbitz in the last year, with a $1.8 million judgment awarded to Jibbitz in May 2007 after an infringement ruling against Joinworld Industrial & Trading Limited.
Timberland director exercises options
A director of Timberland (NYSE: TBL) exercised options for 10,000 shares of common stock, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC, Ian W. Diery reported he exercised the options on May 12 for $10.37 apiece and then sold all 10,000 of them on the same day for $16.80 to $16.93 apiece.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
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