COLUMBIA, Mo., April 20, 2023 - American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), ("AOB") an industry leading provider of products and accessories for outdoor enthusiasts, on April 6, 2023, executed an agreement with Good Sportsman Marketing, LLC ("GSM") to settle litigation related to GSM's improper use of trademarks owned by AOB and allegations of infringement of AOB's patent rights.
American Outdoor Brands' trademark and patent infringement action against GSM was initiated in October 2022, and was related to GSM's use of AOB's LEAD SLED®, TACKDRIVER®, and DEAD SHOT® marks, as well as to GSM's sales of its Alpha Shooting Rest.
The settlement agreement provides that GSM will compensate AOB; judgment in American Outdoor Brands' favor on its claim for trademark infringement and that GSM will cease all sales, advertising, marketing, and shipments of its Alpha Shooting Rest; as well as additional undisclosed terms. In addition, on April 14, 2023, the United States District Court for the District of Delaware entered a permanent injunction against GSM enjoining future infringement of AOB's trademarks.
Brian Murphy, President and CEO of American Outdoor Brands, said, "Innovation is core to our long-term growth strategy, and we believe our proprietary designs and features have helped us build a loyal base of consumers who trust our brands to deliver their best performance and enhance their experience in the outdoors. We are pleased with this settlement agreement, which protects our intellectual property, and allows us to remain focused on building authentic, lifestyle brands that help our consumers 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, outdoor cooking, shooting, 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
lsharp@aob.com
(573) 303-4620
SOURCE American Outdoor Brands, Inc.
