Collective Brands Wants Adidas Ruling Overturned
Kansas City, Mo. Collective Brands Inc. (the company resulting from the merger of Payless Shoe Source and Stride Rite) has filed a motion seeking to have a court set aside or reduce a $305 million judgment against it for what a jury said was unlawful use of the Adidas three-stripe logo, according to the Associated Press.
A federal jury in Oregon last week ordered Collective Brands to pay $305 million in damages to Adidas AG.
The verdict stemmed from a lawsuit that Adidas filed in 2001 against Payless ShoeSource for selling shoes that Adidas said violated the trademarked three-stripe logo. Payless changed its name to Collective Brands last year.
Collective Brands filed papers on Monday asking U.S. District Judge Garr King in Portland, Ore., to reverse the award or order a new trial in the seven-year-old infringement case, the company confirmed Tuesday.
“We believe that the jury’s verdict was unjustified and excessive, and that we have strong grounds to have the jury’s verdict overturned or reduced,” Collective Brands CEO Matthew E. Rubel said in a note to shareholders.
Paul Ehrlich, general counsel for Adidas North America, said Adidas has been building its brand for more than 60 years and that the verdict underscores the importance of protecting consumers from unfair and deceptive practices.
Collective Brands said the judgment was 15 times more than the profits made on the shoes.
Integrated Silicon Solution names cfo
SAN JOSE, Calif. Integrated Silicon Solution has announced the appointment of John Cobb to the position of cfo and vp of finance and administration effective May 12.
In Cobb’s most recent experience, he held the position of cfo and vp of finance and administration of power integrations, a San Jose, Calif.-based fabless analog semiconductor company, for five years.
Rocky Mountain Chocolate names new vps
DURANGO, Colo. Rocky Mountain Chocolate Factory has announced the appointment of two new officers to its management team. Donna Coupe has been hired as vp of franchise support at the company and Jeremy Kinney has been promoted to vp of finance.
Coupe has over 16 years prior experience with Rocky Mountain Chocolate Factory, during which time she served as retail store manager, field consultant and director of franchisee support.
Kinney has approximately nine years of experience with Rocky Mountain Chocolate Factory and has held a variety of operational and financial positions, including director of retail operations and operations analysis, and corporate controller.