Collective Brands to pay millions to settle lawsuit
Story by The Associated Press
10:48 a.m. Friday, June 27, 2008
Topeka-based Collective Brands Incorporated is agreeing to pay $30 million to settle a trademark infringement case brought by shoe rival K-Swiss.
The company is not admitting wrongdoing. But it will agree to avoid making and selling shoes that are confusingly similar to those made by K-Swiss.
Collective Brands operates the Payless and Stride Rite shoe store chains. It says it believes some of the $30 million settlement will be covered by insurance although it is fighting its insurance company in court.
Last month, an Oregon jury ordered Collective Brands to pay Adidas $305 million for trademark infringement. The company has asked the court to dismiss or reduce the award, saying it is unreasonable.
Collective Brands changed its name from Payless ShoeSource last year. The company operates the Payless and Stride Rite shoe store chains, as well as selling shoes wholesale.
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