NEW YORK Dec 3 Shoe maker Crocs Inc (CROX.O)
said on Wednesday that it had settled all litigation with rival
Skechers USA Inc (SKX.N), which it had claimed infringed a
number of its patents.
The settlement terms were not disclosed.
Crocs, known for its brightly colored clogs, said the
parties agreed to settle all outstanding worldwide litigation,
including a U.S. District Court action in Colorado.
Crocs said Skechers had agreed to stop making and selling
certain molded footwear styles and to focus on its core
Launched in Colorado in 2002, Crocs' quirky, bright and
comfortable resin shoes quickly attracted a cult following and
within three years, the brand began attracting notice around
But the shoes' novelty has since waned, and Crocs shares
have fallen out of favor on Wall Street. The stock, which
started 2008 at $38, closed at $1.33 on the Nasdaq on Tuesday.
A spokeswoman for Skechers, which is based in California,
was not immediately available.
(Reporting by Martinne Geller; Editing by Lisa Von Ahn)