Asics Corporation, the parent company of Asics America, is reporting that Skechers USA Inc. has dropped its trade libel and unfair competition lawsuit against Asics. Based on court papers obtained by Sports Executive Weekly, the lawsuit, which was filed in late February, was dismissed on March 29, 2007. Reuters is reporting that an “Asics spokesman said the reason for Skechers' move was unknown.”
Skechers USA had initially filed its lawsuit against Asics Corporation and Asics America Corporation for trade libel, unfair competition and tortuous interference with prospective economic advantage and economic business relations. Skechers was seeking injunctive relief enjoining Asics from engaging in further unlawful acts, disgorgement of Asics' profits, attorneys' fees and $100 million in punitive damages. SKX also sought a declaration that none of its designs infringe upon Asics' trademarks.
Asics America Corporation and Asics Corporation Japan had filed its original suit for trademark infringement, unfair competition, trademark dilution and false advertising. The Asics suit was seeking a permanent injunction against Skechers to prevent any future sales and distribution of shoes that bear a stripe design similar to Asics' stripe design. They were also seeking damages, including profits and attorney fees.
