Business
American Outdoor Brands Secures Trademark and Patent Settlement Agreement with GSM Outdoors
COLUMBIA, Mo., April 20, 2023 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), ("AOB") an industry leading provider of products and
About this update from Smith & Wesson Brands, Inc.
[{"type":"text","content":"COLUMBIA, Mo., April 20, 2023 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), (\"AOB\") an industry leading provider of products and accessories for outdoor enthusiasts, on April 6, 2023, executed an agreement with Good Sportsman Marketing, LLC (\"GSM\") to settle litigation related to GSM's improper use of trademarks owned by AOB and allegations of infringement of AOB's patent rights.\n\n \n \n \n \n \n \n\n \nAmerican Outdoor Brands' trademark and patent infringement action against GSM was initiated in October 2022, and was related to GSM's use of AOB's LEAD SLED®, TACKDRIVER®, and DEAD SHOT® marks, as well as to GSM's sales of its Alpha Shooting Rest.\nThe settlement agreement provides that GSM will compensate AOB; judgment in American Outdoor Brands' favor on its claim for trademark infringement and that GSM will cease all sales, advertising, marketing, and shipments of its Alpha Shooting Rest; as well as additional undisclosed terms. In addition, on April 14, 2023, the United States District Court for the District of Delaware entered a permanent injunction against GSM enjoining future infringement of AOB's trademarks.\nBrian Murphy, President and CEO of American Outdoor Brands, said, \"Innovation is core to our long-term growth strategy, and we believe our proprietary designs and features have helped us build a loyal base of consumers who trust our brands to deliver their best performance and enhance their experience in the outdoors. We are pleased with this settlement agreement, 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 Information\nThe 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 characterizations of future events or circumstances, are forward-looking statements. These statements relate to ...