PLUS....
Wednesday March 5 7:54 AM EST
Oakley Inc , Bausch & Lomb unit settle lawsuit
IRVINE, Calif., March 5 (Reuter) - Eyewear maker and distributor Oakley Inc said Wednesday it had reached a settlement of litigation against Bausch & Lomb Inc Arnet Optic Illusions
unit and the unit's founder.
Under the settlement, which concerned alleged misappropriation of trade secrets and breach of contract, Arnet will pay Oakley $750,000, it said.
In September 1994, Oakley filed suit against Arnet and its founder Greg Arnette, alleging misappropriation of trade secrets and breach of contract related to the Arnette Steel Raven
sunglass design.
In the suit, Oakley, which also designs eyewear, alleged the design was an Oakley trade secret taken by Arnette and his company. Oakley alleged that the design was done by Oakley
founder Jim Jannard while Greg Arnette was an employee of Oakley.
((--New York Newsdesk 212-859-1610)) |
