Payless Drops Appeal Of $305M Adidas Trademark Win

By Erin Marie Daly (January 25, 2010, 5:40 PM EST) -- Payless ShoeSource Inc. and Adidas America Inc. have buried the hatchet in a long-running intellectual property battle over Adidas' trademark three-stripe logo, with the footwear retailer abandoning its appeal of a multimillion-dollar damages award handed down in 2009.

Both parties have agreed to the voluntary dismissal of the suit with prejudice after reaching a settlement, according to documents filed Monday in the U.S. Court of Appeals for the Ninth Circuit.

Attorneys involved in the case declined to comment on the development, saying the terms of the settlement were confidential.

The dismissal comes after a jury in the U.S. District Court for...

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