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JAKKS Pacific Inc. issued the following press statement today. With the Court Of Appeals supporting the U.S. District Court's decision to dismiss the WWE-JAKKS lawsuit, it looks like the legal wrangling between the two sides is finally at an end. The lawsuit was brought about years ago by WWE, accusing JAKKS of being involved in collusion and acts of bribery with WWE's licensing agent at the time. Of course, WWE will be switching to Mattel at the end of this year, as their contract with JAKKS (which they have been abiding by throughout this proceeding) is expiring.
Here is the statement:
Court of Appeals Affirms Dismissal of WWE Lawsuit Against JAKKS Pacific
JAKKS Pacific, Inc. (NASDAQ:JAKK) announced that the United States Court of Appeals for the Second Circuit unanimously affirmed the judgment of the United States District Court for the Southern District of New York (Karas, J.), dismissing in its entirety WWE’s federal action against JAKKS and certain of its officers.
Jack Friedman, the Company’s Chairman and Co-Chief Executive Officer, stated: "We are pleased that both the Federal District Court and the Court of Appeals for the Second Circuit have dismissed WWE’s federal claims.â€
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer and marketer of toys and consumer products, with a wide range of products that feature some of the most popular children's toy licenses in the world. JAKKS’ diverse portfolio includes Action Figures, Art Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys, Electronics, Dolls, Dress-Up, Role Play, and Pet Toys and Accessories, sold under various proprietary brands including JAKKS Pacific®, Play Along®, Flying Colors®, Creative Designs International™, Road Champs®, Child Guidance®, Pentech®, Funnoodle®, Go Fly a Kite®, Color Workshop®, JAKKS Pets™, EyeClops®, Plug It In & Play TV Games™, Girl Gourmet™, Kids Only®, Tollytots® and Disguise. JAKKS is an award-winning licensee of several hundred nationally and internationally known trademarks including Disney, Nickelodeon, Warner Bros., World Wrestling Entertainment, Ultimate Fighting Championship, Graco and Cabbage Patch Kids. JAKKS and THQ Inc. participate in a joint venture that has worldwide rights to publish and market World Wrestling Entertainment video games. For further information, visit www.jakks.com.
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