Crocs, Skechers settle litigation
Crocs Inc., the maker of colorful plastic clogs with holes, and Skechers USA Inc. said they had agreed to settle all outstanding litigation over patent-infringement claims.
Skechers, based in Manhattan Beach, will stop making and selling some “molded footwear styles” under the agreement reached this week, the companies said. Other terms weren’t disclosed.
Crocs, whose stock has dropped 96% this year, is fighting to bar copies of its shoes amid falling sales. Analysts have questioned whether the Niwot, Colo., shoemaker can command prices four times those of its imitators as U.S. consumer spending declines.
Crocs sued Skechers in July over its foam clogs sold under names including “Low Tide,” “Gypsies,” “Wooly Bully” and “Waterbug.”
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