ZURU Bunch O Balloons Infringement Proceedings End in Settlement
LOS ANGELES, May 28, 2019 /PRNewswire/ -- Leading international toy and consumer products company, ZURU Ltd. is pleased to announce today it has settled all pending ZURU BUNCH O BALLOONS infringement proceedings against Telebrands and Bulbhead.com LLC. The settlement includes payment in full by Telebrands of the nearly $31 million final judgment entry earlier this year of ZURU's November 2017 jury verdict against Telebrands by the U.S. District Court in the Eastern District of Texas. The settlement also includes an additional substantial payment by Telebrands in respect of all other pending infringement proceedings, as well as Telebrands' agreement that it will not sell any of its accused products, including Balloon Bonanza, Battle Balloons and Easy Einstein. All pending litigation and administrative proceedings will be dismissed.
"We are extremely pleased to have settled our patent infringement claims against Telebrands," said Anna Mowbray, Chief Operating Officer of ZURU. "It has been a long and expensive fight but we are passionate about our products. It will be fun to focus on continued innovation. We look forward to explosive growth in our BUNCH O BALLOONS product lines. We are passionate about protecting our brands and fully committed to ongoing vigorous global enforcement of our intellectual property rights."
The final judgment entry of the November 2017 jury verdict included a doubling of that jury verdict award along with an award of attorney's fees and prejudgment interest in light of the Court's conclusion in that suit that Telebrands' willful infringement and litigation practices were particularly egregious.
About ZURU
ZURU is a disruptive and award-winning company that designs, manufactures and markets innovative toys and consumer products. Inspired by kids and imaginative play, ZURU is one of the fastest growing toy companies in the world and is known for their agility, creativity and new-age manufacturing techniques. The company that started in New Zealand and is now headquartered in Hong Kong, now directly or indirectly employs more than 5,000 staff across 10 countries and distributes to most major retailers in over 120 countries. ZURU has delighted millions of families all over the world with brands such as Bunch O Balloons™, X-Shot™, Rainbocorns™, Robo Alive™, Smashers™, 5 Surprise™, Pets Alive™ and Metal Machines™ as well as through partnerships with entertainment properties, including Nickelodeon, Disney, Universal Studios and DreamWorks. With a strong commitment to the community, ZURU supports Captivating International, local China orphanages and also student development programs in Asia and in New Zealand. ZURU will continue to pave new ways for kids to play and focuses on reimagining what this looks like everyday.
For more info, visit www.zuru.com, and follow on Facebook @ZURUToys, Twitter @ZURUToys and Instagram @ZURU.toys.
Media Contacts:
GennComm for Zuru
Janis Van Tine C: (310) 493-1346 E: [email protected]
Sarah Gumina C: (310) 714-0350 E: [email protected]
O: (818) 839 1461
SOURCE ZURU
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