Crocs, Skechers settle out of court

NIWOT – Crocs Inc. and Skechers Inc. ended a patent infringement lawsuit out of court, and Skechers will “discontinue production and sale of certain molded footwear styles,” according to a press release.

The companies would not divulge specific terms of the settlement. The lawsuits were resolved this week when the parties agreed on settlement terms “mutually acceptable to both companies.”

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“We are pleased that we were able to resolve these matters without either side having to absorb the energy and expense that ongoing litigation requires,” the companies said, in a joint statement.

Crocs (Nasdaq:CROX), a Niwot-based shoemaker, filed a lawsuit against Manhattan Beach, Calif.-based Skechers in Colorado’s U.S. District Court on July 10. Crocs accused Skechers of “patent infringement, trade dress infringement and dilution, unfair competition and deceptive trade practices arising out of the company’s manufacture, distribution and sales of footwear that is allegedly similar to several Crocs’ products,” according to a Skechers filing with the Securities and Exchange Commission.

According to the filing, Crocs sought actual damages, punitive damages, profits, and attorney’s fees and costs. It also wanted a preliminary and/or permanent injunction against the company to prevent any future manufacturing, distribution or sales of footwear that infringes Crocs’ design patents or trade dress or that uses any mark that is confusingly similar to Crocs’ animated crocodile design mark.

Skechers said it planned on “defending the allegations vigorously” and believed “the claims are without merit,” in its SEC filing.