Leatt Corporation Gets Arbitration Award
CAPE TOWN, SOUTH AFRICA, Dec 10, 2009 (MARKETWIRE via COMTEX) -- Leatt Corporation, a Nevada corporation (PINKSHEETS: LEAT) ("Company" or "our"), announced today that it received an Arbitration Award in South Africa which granted Leatt Corporation's request for a permanent restraining order against Karl Ebel and Grant Nelson former employees of Leatt Corporation, as well as one other ("Defendants"), which order permanently restrains them from disclosure of proprietary information about and any commercial exploitation of our Neck Brace intellectual property. The Company is seeking enforcement of the arbitration order in the U.S. against the Defendants.
The permanent restraining Arbitration Award was granted on December 4, 2009. Leatt Corporation alleged that the Defendants were selling a neck brace (through a California company, Innovative Safety Technology LLC) that is based on and violates Leatt Corporation's intellectual property rights; that neck brace is sold under the name "DefNder."
Dr. Chris Leatt, CEO of the Company, said, "We believe in protecting our Intellectual Property and confidential information vigorously. We are thrilled with the outcome of the Arbitration Award and look forward to receiving a final Court Order." Mr. Grant Leigh Nelson is an engineer that joined Leatt Corporation after it had developed of the Leatt-Brace(R) Moto GPX and Mr. Karl Peter Ebel was Head of Marketing at Leatt Corporation.
About Leatt Corporation: Leatt Corporation is the exclusive global distributor of the Leatt-Brace(R), a Neck Brace designed to help prevent or lessen the severity of potentially devastating motor sport injuries to the cervical spine (neck). The company's operations and research and development of the core products currently take place at Leatt Corporation's offices in Cape Town, South Africa.
Safe Harbor Statement: Any "forward-looking statements" herein are governed by and protected by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, and do not necessarily indicate future performance or prospects of the Company or its subsidiaries.
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SOURCE: Leatt Corporation
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