Collective Brands Inc. says a federal judge in Oregon has reduced by almost 80 percent a judgment against the company in a trademark infringement case.
The Topeka-based shoe maker and retailer, formerly known as Payless ShoeSource, said late Friday, September 12, that the award was cut from $305 million to $64.4 million.
A federal jury in May determined that Collective Brands violated Adidas’ trademarked three-stripe logo on some of its shoes and ordered the company to pay damages.
Collective Brands asked the judge to reduce the award, calling it “unsupportable and excessive.”
Adidas sued Payless ShoeSource in 2001.
Matt Rubel, the company’s CEO, said in a statement that he was pleased the judge lowered the judgment but that Collective Brands will appeal the verdict.
The company’s stock was up 95 cents to $18 in after-hours trading, having closed down 66 cents at $17.05 in the regular session.
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