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MORE NEWS!!!!
Wednesday March 5 7:05 AM EDT
Oakley Reaches $750,000 Settlement with Arnet Optic Illusions
IRVINE, Calif.--(BUSINESS WIRE)--March 5, 1997-- Oakley Inc announced it reached a settlement yesterday in its litigation against Greg Arnette and Arnet Optic Illusions, a subsidiary
of Bausch & Lomb Inc . Under the terms of the settlement, Arnette and Arnet Optic Illusions are required to pay $750,000 to Oakley in damages.
In September 1994, Oakley filed suit against Arnet Optic Illusions and its founder Greg Arnette for misappropriation of trade secrets and breach of contract relating to the Arnette Steel
Raven sunglass design. In the suit, Oakley alleged that the Steel Raven design was an Oakley trade secret taken by Greg Arnette and his company. This design was conceived and
drawn by Jim Jannard, Oakley founder and chief designer, while Greg Arnette was an employee of Oakley.
"Far beyond the monetary reward, we interpret this settlement as an important message for those who copy or steal our proprietary designs and technology," said Jim Jannard, Chairman
and President of Oakley. "Our designs are not born overnight. Being integrally involved in the design process, I am acutely aware of the effort, time and creativity that goes into the
development of our innovative products. This is why the company continues to vigorously protect the integrity of the Oakley brand against those who are unwilling or unable to rely on
their own abilities."
Oakley is an innovation-driven designer, manufacturer and distributor of high-performance eyewear.
CONTACT: Oakley, Inc.
Link Newcomb or Renee Law, 714/951-0991 |
