American Outdoor Brands Reaches Amicable Patent Settlement Agreement With Vista Outdoor, Bushnell Holdings
COLUMBIA, Mo., March 19, 2024 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), ("AOB") an industry- leading provider of products and accessories for outdoor enthusiasts, today announced that it has reached an amicable settlement agreement with Vista Outdoor Sales LLC ("Vista") and Bushnell Holdings, Inc. ("Bushnell") to settle pending patent litigation.
On May 30, 2023, AOB filed a complaint against Vista alleging that, through Vista's sales of the RCBS ChargeMaster Supreme Electronic Powder Dispenser, Vista was infringing AOB's patent rights incorporated in the Frankford Arsenal® Intellidropper® electronic powder measure, including AOB's U.S. Pat. Nos. 11,118,884, 11,473,890, 11,486,684, 11,486,685, and 11,506,472.
On August 1, 2023, Bushnell filed a complaint against AOB alleging that, through AOB's sales of certain hunting blind products, AOB was infringing Bushnell's patent rights under U.S. Pat. Nos. 7,475,699, 7,717,124, and 7,984,725.
As a result of the settlement, the two cases have been dismissed. No further details of the settlement will be provided.
Brian Murphy, President and CEO of American Outdoor Brands, said, "Innovation is core to our long-term growth strategy. We believe this settlement demonstrates our intent to continue protecting our proprietary designs and features, which have helped AOB build a loyal base of consumers who continue to trust our brands to help them make the most out of the moments that matter."
Statement Regarding Forward-Looking Information
The statements contained in this release that are not historical are forward-looking statements within the meaning of the U.S. federal securities laws and we intend that such forward-looking statements be subject to the safe harbor created thereby. Statements that are not historical facts, including statements about anticipated financial outcomes and expenditures as well as other statements about our expectations, beliefs, intentions, or strategies regarding the future, or other characterizations of future events or circumstances, are forward-looking statements. These statements relate to future events and our future results and involve a number of risks and uncertainties. Actual results, performance or achievement could differ materially from those contained in these forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, without limitation, changes in price and volume and the volatility of our common stock, unexpected or otherwise unplanned or alternative requirements with respect to the capital investments of the Company, changes in general economic, business and political conditions, and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Except as required by applicable law or regulation, we disclaim any obligation and do not intend to publicly update or review any of our forward-looking statements, whether as a result of new information, future events or otherwise.
About American Outdoor Brands, Inc.
American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT) is an industry leading provider of outdoor products and accessories, including hunting, fishing, camping, shooting, outdoor cooking, and personal security and defense products, for rugged outdoor enthusiasts. The Company produces innovative, top quality products under its brands BOG®; BUBBA®; Caldwell®; Crimson Trace®; Frankford Arsenal®; Grilla Grills®; Hooyman®; Imperial®; LaserLyte®; Lockdown®; MEAT!; Old Timer®; Schrade®; Tipton®; Uncle Henry®; ust®; and Wheeler®. For more information about all the brands and products from American Outdoor Brands, Inc., visit www.aob.com.
Contact:
Liz Sharp, VP, Investor Relations
[email protected]
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.