Columbia Sportswear Company Announces Final Disposition of Lawsuit Filed by Innovative Sports
PORTLAND, Ore.--(BUSINESS WIRE)-- Columbia Sportswear Company (NAS: COLM) , leading innovator in the active outdoor apparel, footwear, accessories and equipment industries, announced today the final disposition of the lawsuit filed by Innovative Sports of Eugene, Oregon.
Innovative Sports voluntarily dismissed all claims against Columbia and provided written assurances that no future claims would be made against Columbia. Columbia made no payment to Innovative Sports.
"The dismissal and withdrawal of all the claims confirms our contention that this lawsuit was a wasteful work of fiction," said Peter Bragdon, Columbia's general counsel and senior vice president of corporate and legal affairs. "All of the terms of the written agreement for the dismissal of the claims are public and underscore what we have stated previously: Columbia refused to pay a single penny to settle frivolous and false claims."
During the first nine months of the litigation, Innovative Sports received multiple extensions of time to replead its claims and was forced to replace its lawyers numerous times after its lawyers withdrew from the case. On March 22, 2013, the Lane County Circuit Court dismissed five of the six claims against Columbia, including false allegations that Columbia misappropriated trade secrets. On April 12, 2013, Columbia filed a motion for summary judgment and submitted overwhelming evidence to the court, showing that the remaining claim was based on false allegations. Within hours of Columbia's court filing, Innovative Sports requested Columbia's stipulation to the dismissal of the case. A written agreement was finalized on April 15 and the court dismissed the case on April 16.
About Columbia Sportswear Company
Columbia Sportswear Company is a leading innovator in the global outdoor apparel, footwear, accessories and equipment industry. Founded in 1938 in Portland, Oregon, Columbia products are sold in approximately 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®, Sorel®, Montrail® and OutDry®. To learn more, please visit the company's websites at www.columbia.com, www.mountainhardwear.com, www.sorel.com, www.montrail.com and www.outdry.com.
Columbia Sportswear Investor Relations
and Corporate Communications
Ron Parham, 503-985-4584
Columbia Sportswear Public Relations
Scott Trepanier, 503-985-4183
KEYWORDS: United States North America Oregon
The article Columbia Sportswear Company Announces Final Disposition of Lawsuit Filed by Innovative Sports originally appeared on Fool.com.
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