|
|
|
Russ Berrie Troll Injunction
|
OAKLAND, N.J., Dec. 6 -- Russ Berrie and Company, Inc. today announced that the United States District Court, District of New Jersey, has issued a preliminary injunction in the previously disclosed action by Dam Things from Denmark (a/k/a Troll Company ApS) against Russ Berrie and Company, Inc. The preliminary injunction, issued December 3, 2001, enjoins Russ Berrie and Company, Inc. from selling its current troll doll inventory after February 12, 2002. The court issued this injunction despite Russ having been issued fifteen copyright registrations relating to its troll products from the United States Copyright Office. The Company believes it has substantial defenses to the allegations raised by Dam Things and intends to appeal the District Court's injunctive order.
The Company has been selling trolls for over thirty years. In 2001, the sale of troll products has represented less than one half of one percent of the Company's net sales. The Company does not believe that the ultimate resolution of this action will have a material adverse impact on the financial condition of the Company.
Russ Berrie and Company, Inc., The Gift Company For Today's Lifestyle, designs, develops, and distributes approximately 6,000 seasonal and everyday gift products to retailers worldwide. These products include teddy bears, stuffed animals, baby gifts, picture frames, candles, figurines, home decor gifts, and a wide variety of fun-filled merchandise.
Note: This News Release contains certain forward-looking statements. Additional written and oral forward-looking statements may be made by the Company from time to time in Securities and Exchange Commission (SEC) filings and otherwise. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking words or phrases including, but not limited to, "anticipate", "believe", "expect", "intend", "may", "planned", "potential", "should", "will" or "would". The Company cautions readers that results predicted by forward-looking statements, including, without limitation, those relating to the Company's future business prospects, revenues, working capital, liquidity, capital needs, interest costs and income are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Specific risks and uncertainties include, but are not limited to, the Company's ability to continue to manufacture its products in the Far East, the seasonality of revenues, the actions of competitors, the result of certain legal proceedings, ability to increase production capacity, price competition,
the effects of government regulation, possible delays in the introduction of new products, customer acceptance of products, issues related to the Company's Russ Trading division, the ability to grow its direct sales force, changes in foreign currency exchange rates, issues related to the Company's computer systems, the current and future outlook of the global retail market and other factors.
  
|
|
|
