Spin Master Corp. (TSX:TOY) (http://www.spinmaster.com ) and Alpha Group Co., Ltd. of Guangzhou, Guangdong, P.R. China, are pleased to announce that their disputes in Canada, the United Kingdom, and the United States regarding transformable toys have been resolved amicably. Among the terms of settlement are Alpha Group’s agreement not to sell, after January 31, 2019, the Screechers Wild! products identified in the three cases in the three countries subject to the settled disputes.
“We are very proud of the innovative technology behind the Bakugan products,” Chris Harrs, General Counsel, Spin Master Corp. “Spin Master has a history and reputation for enforcing our intellectual property and we will continue to vigorously protect our rights where necessary.”
Spin Master filed and obtained world-wide patents to protect the transformation mechanism associated with its award winning and successful Bakugan® toys. Spin Master takes great care to protect its innovative transforming technology in major territories around the world. Spin Master currently has outstanding law suits filed against Mattel in Canada, The United States and Mexico alleging Mattel’s Mecard product infringes the Bakugan technology.
About Spin Master Spin Master (TSX:TOY; http://www.spinmaster.com) is a leading global children’s entertainment company that creates, designs, manufactures, licenses and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Spin Master is best known for award-winning brands including Zoomer®, Bakugan®, Erector® by Meccano®, Hatchimals®, Air Hogs® and PAW Patrol®. Since 2000, Spin Master has received 103 TIA Toy of The Year (TOTY) nominations with 28 wins across a variety of product categories, including 13 TOTY nominations for Innovative Toy of the Year. To date, Spin Master has produced eight television series, including 2007 success Bakugan Battle Brawlers and current hit PAW Patrol, which is broadcast in over 160 countries and territories globally. Spin Master has 28 offices and employs over 1,700 people globally in Canada, United States, Mexico, France, Italy, United Kingdom, Russia, Slovakia, Poland, Germany, Sweden, the Netherlands, China, Hong Kong, Japan, Vietnam and Australia.
(Fonte: Adnkronos Immediapress)