Lululemon gets deal to settle patent dispute
NEW YORK (AP) — Lululemon Athletica Inc. said late Tuesday that it reached a deal with clothing maker Calvin Klein Inc. and one of its licensees to settle patent lawsuits related to certain yoga pant designs.
The Canadian yoga wear maker said the settlement will result in the dismissal of the pending lawsuits between it Calvin Klein and G-III Apparel Group Ltd., which licenses the Calvin Klein Performance brand.
Lululemon said the terms of the settlement are confidential.
Lululemon's U.S. shares fell 99 cents to $70.89 in morning trading, while shares of PVH Corp., Calvin Klein's parent company, lost 17 cents to $110.28. G-III shares fell 41 cents to $37.98.