Columbia Sportswear Co. (COLM), on Wednesday announced the final disposition of the lawsuit filed by Innovative Sports of Eugene, Oregon.
Innovative Sports voluntarily dismissed all claims against Columbia and provided written assurances that no future claims would be made against Columbia, which has not made any payment to Innovative Sports.
"The dismissal and withdrawal of all the claims confirms our contention that this lawsuit was a wasteful work of fiction," said Peter Bragdon, Columbia's general counsel and senior vice president of corporate and legal affairs.
"All of the terms of the written agreement for the dismissal of the claims are public and underscore what we have stated previously: Columbia refused to pay a single penny to settle frivolous and false claims."
During the first nine months of the litigation, Innovative Sports received multiple extensions of time to replead its claims and was forced to replace its lawyers numerous times after its lawyers withdrew from the case.
In March, the Lane County Circuit Court dismissed five of the six claims against Columbia, including false allegations that Columbia misappropriated trade secrets.
Earlier this month, Columbia filed a motion for summary judgment and submitted overwhelming evidence to the court, showing that the remaining claim was based on false allegations. Within hours of Columbia's court filing, Innovative Sports requested Columbia's stipulation to the dismissal of the case. A written agreement was finalized on April 15 and the court dismissed the case on April 16.
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