Business
American Outdoor Brands Secures Patent Settlement Agreement with The Allen Company, Inc.
COLUMBIA, Mo., Sept. 26, 2023 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), ("AOB") an industry leading provider of products and
About this update from American Outdoor Brands, Inc.
[{"type":"text","content":"COLUMBIA, Mo., Sept. 26, 2023 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), (\"AOB\") an industry leading provider of products and accessories for outdoor enthusiasts, today announced that it has secured a settlement, including a permanent injunction entered by the United States District Court for the District of Colorado on September 25, 2023, with The Allen Company, Inc. (\"Allen\"), related to Allen's infringement of AOB's patent rights.\n\n \n \n \n \n \n \n\n \nAOB's trademark and patent infringement action against Allen was initiated in February 2023 and was related to Allen's alleged repeated infringement of AOB's patent rights incorporated in the LEAD SLED® shooting rests; Orange Peel® shooting targets; and Ultimate Target Stand through Allen's sales of the Shottrax and Shot-Rock shooting rests; EZ Aim® targets; and the Precision Target Stand, respectively.\nOn September 25, 2023, the United States District Court for the District of Colorado entered a permanent injunction against Allen enjoining Allen from making, using, importing, selling, or offering for sale Shottrax and Shot-Rock shooting rests SKU Nos. 21922 and 21925; EZ Aim targets SKU Nos. 15253, 15229, 15224, 15222, 15228, 15225, 15252, 15226, and 15223; and the Precision Target Stand SKU No. 15296.\nBrian Murphy, President and CEO of American Outdoor Brands, said, \"Innovation remains key to our long-term growth, and we believe our proprietary designs and features have helped us build a loyal base of consumers who continue to trust our brands. We are pleased with this settlement agreement and related permanent injunction, which protects our intellectual property, and allows us to remain focused on building authentic, lifestyle brands that help our consumers make the most out of the moments that matter.\"\nStatement Regarding Forward-Looking InformationThe statements contained in this release that are not historical are forward-looking statements within the meaning of the U.S. federal securities laws and we intend that such forward-looking statements be subject to the safe harbor created thereby. Statements that are not historical facts, including statements about anticipated financial outcomes and expenditures as well as other statements about our expectations, beliefs, intentions, or strategies regarding the future, or other chara...