NEW YORK, Sept 30 (Reuters) – Peloton Interactive Inc (PTON.O) has reached a settlement of a lawsuit through which Lululemon Athletica Inc (LULU.O) accused the train bike maker of infringing its patents by creating a line of attire for ladies.
With out admitting wrongdoing, Peloton has agreed to part out “sure designs” that Lululemon had objected to in a lawsuit, the businesses mentioned in a joint assertion on Friday.
“The events have negotiated a mutually agreeable settlement, and are happy the issues may very well be resolved amicably, leading to dismissal of the pending litigation between them,” the businesses mentioned.
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Lululemon sued Peloton final Nov. 29 in Los Angeles, accusing it of infringing six design patents by promoting 5 “copycat” bra and legging merchandise: Strappy Bra, Excessive Neck Bra, Cadent Peak Bra, Cadent Laser Dot Bra and Cadent Laser Dot Leggings.
The lawsuit was 5 days after Peloton sued Lululemon in Manhattan, searching for a declaration it had not infringed any Lululemon patents after the Canadian firm had threatened to sue.
U.S. District Choose Andrew Carter dismissed Peloton’s case on Thursday, clearing the best way for Lululemon’s case in Los Angeles to proceed. learn extra
The dispute arose from New York-based Peloton’s September 2021 launch of a private-label attire model, following the top of the businesses’ five-year co-branding relationship.
Lululemon, primarily based in Vancouver, British Columbia, additionally referred to as Peloton’s One Lux Tight a knockoff of its in style Align pants.
Peloton has struggled to fight falling demand for its bikes and at-home exercises as extra individuals return to workplaces and gymnasiums. Its share worth has fallen greater than 90% since final October.
On Thursday, Peloton mentioned it’s going to start promoting its tools at Dick’s Sporting Items (DKS.N), the primary brick-and-mortar shops to hold the tools aside from Peloton shops.
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Reporting by Jonathan Stempel in New York
Modifying by Marguerita Choy
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