COLUMBIA, Mo., Sept. 26,
2023 /PRNewswire/ -- American Outdoor Brands,
Inc. (NASDAQ Global Select: AOUT), ("AOB") an industry leading
provider of products and accessories for outdoor enthusiasts, today
announced that it has secured a settlement, including a permanent
injunction entered by the United
States District Court for the District of Colorado on September
25, 2023, with The Allen Company, Inc. ("Allen"), related to
Allen's infringement of AOB's patent rights.
AOB's trademark and patent infringement action against Allen was
initiated in February 2023 and was
related to Allen's alleged repeated infringement
of AOB's patent rights incorporated in the LEAD
SLED® shooting rests; Orange Peel® shooting
targets; and Ultimate Target Stand through Allen's sales of the
Shottrax and Shot-Rock shooting rests; EZ Aim® targets;
and the Precision Target Stand, respectively.
On September 25, 2023,
the United States District Court
for the District of Colorado
entered a permanent injunction against Allen enjoining Allen from
making, using, importing, selling, or offering for
sale Shottrax and Shot-Rock shooting rests SKU Nos. 21922 and
21925; EZ Aim targets SKU Nos. 15253, 15229, 15224, 15222, 15228,
15225, 15252, 15226, and 15223; and the Precision Target Stand SKU
No. 15296.
Brian Murphy, President and CEO
of American Outdoor Brands, said, "Innovation remains key to our
long-term growth, and we believe our proprietary designs and
features have helped us build a loyal base of consumers who
continue to trust our brands. We are pleased with this settlement
agreement and related permanent injunction, 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.