COLUMBIA, Mo., April 20,
2023 /PRNewswire/ -- American Outdoor Brands,
Inc. (NASDAQ Global Select: AOUT), ("AOB") an industry leading
provider of products and accessories for outdoor enthusiasts, on
April 6, 2023, executed an agreement
with Good Sportsman Marketing, LLC ("GSM") to settle litigation
related to GSM's improper use of trademarks owned by AOB and
allegations of infringement of AOB's patent rights.
American Outdoor Brands' trademark and patent infringement
action against GSM was initiated in October
2022, and was related to GSM's use of AOB's LEAD SLED®,
TACKDRIVER®, and DEAD SHOT® marks, as well as to GSM's sales of its
Alpha Shooting Rest.
The settlement agreement provides that GSM will compensate AOB;
judgment in American Outdoor Brands' favor on its claim for
trademark infringement and that GSM will cease all sales,
advertising, marketing, and shipments of its Alpha Shooting Rest;
as well as additional undisclosed terms. In addition, on
April 14, 2023, the United States District Court for the
District of Delaware entered a
permanent injunction against GSM enjoining future infringement of
AOB's trademarks.
Brian Murphy, President and CEO
of American Outdoor Brands, said, "Innovation is core to our
long-term growth strategy, and we believe our proprietary designs
and features have helped us build a loyal base of consumers who
trust our brands to deliver their best performance and enhance
their experience in the outdoors. We are pleased with this
settlement agreement, which protects our intellectual property, and
allows us to remain focused on building authentic, lifestyle brands
that help our consumers make the most out of the moments that
matter."
Statement Regarding Forward-Looking Information
The statements contained in this release that are not historical
are forward-looking statements within the meaning of the U.S.
federal securities laws and we intend that such forward-looking
statements be subject to the safe harbor created thereby.
Statements that are not historical facts, including statements
about anticipated financial outcomes and expenditures as well as
other statements about our expectations, beliefs, intentions, or
strategies regarding the future, or other characterizations of
future events or circumstances, are forward-looking statements.
These statements relate to future events and our future results and
involve a number of risks and uncertainties. Actual results,
performance or achievement could differ materially from those
contained in these forward-looking statements. The risks and
uncertainties to which forward-looking statements are subject
include, without limitation, changes in price and volume and the
volatility of our common stock, unexpected or otherwise unplanned
or alternative requirements with respect to the capital investments
of the Company, changes in general economic, business and political
conditions, and other risks detailed in the "Statement Regarding
Forward-Looking Information," "Risk Factors" and other sections of
the Company's Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission. Except as required by
applicable law or regulation, we disclaim any obligation and do not
intend to publicly update or review any of our forward-looking
statements, whether as a result of new information, future events
or otherwise.
About American Outdoor Brands, Inc.
American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT) is an
industry leading provider of outdoor products and accessories,
including hunting, fishing, camping, outdoor cooking, shooting, and
personal security and defense products, for rugged outdoor
enthusiasts. The company produces innovative, top quality products
under its brands BOG®; BUBBA®; Caldwell®; Crimson Trace®; Frankford
Arsenal®; Grilla Grills®; Hooyman®; Imperial®; LaserLyte®;
Lockdown®; MEAT!; Old Timer®; Schrade®; Tipton®; Uncle Henry®;
ust®; and Wheeler®. For more information about all the brands and
products from American Outdoor Brands, Inc., visit www.aob.com.
Contact:
Liz Sharp, VP, Investor
Relations
lsharp@aob.com
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.