Matthew E. Rubel, Chairman and CEO of Collective Brands, Inc., said, “We are pleased that the Court has recognized that the jury award was unsupportable and excessive and has reduced the amount to a more reasonable level. While we believe the resulting judgment remains excessive, it is a step in the right direction. After taking time to review this decision, we will move forward with our approach to appeal what we still believe to be an incorrect decision.”
Judge Lowers Award in Payless-Adidas Lawsuit
Collective Brands, Inc. announced that the Court has entered a judgment in the adidas trademark infringement case that dramatically reduces the monetary award against the company from the $305 million awarded by the jury in May. The Court reduced the award by more than 75% to $64.4 million.