Furniture Brands Settles Infringement Case
January 9, 2009
St. Louis-based Furniture Brands International announced Thursday it has settled a patent infringement lawsuit it brought against High Point's Lifestyle Enterprise over Thomasville's long-running Irving Park collection.
The statement said the settlement calls for Lifestyle to phase out existing inventory to select customers and make a monetary payment to Thomasville. The amount of the payment and other details were not disclosed, and the announcement said the companies have agreed to not provide further comment on the matter.
Furniture Brands Chairman and CEO Ralph Sozzafava said, "Protecting innovation is a crucial part of our business, and we will work hard to maintain our design leadership in the industry. Furniture Brands will take full advantage of the laws that provide an incentive to develop new products and provide protection in the marketplace."
The statement said the settlement calls for Lifestyle to phase out existing inventory to select customers and make a monetary payment to Thomasville. The amount of the payment and other details were not disclosed, and the announcement said the companies have agreed to not provide further comment on the matter.
Furniture Brands Chairman and CEO Ralph Sozzafava said, "Protecting innovation is a crucial part of our business, and we will work hard to maintain our design leadership in the industry. Furniture Brands will take full advantage of the laws that provide an incentive to develop new products and provide protection in the marketplace."
Companies Mentioned:
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