6th Circ. Revives Suit Over Botched $95M Cartoon IP Deal

Law360, New York (July 16, 2012, 4:46 PM EDT) -- The Sixth Circuit on Monday revived MoonScoop SAS's lawsuit claiming American Greetings Corp. broke its promise to sell the rights to cartoon characters the Care Bears and Strawberry Shortcake for $95 million, saying an underlying contract provision was too ambiguous for summary judgment.

The ruling overturned a lower court's decision that MoonScoop, not American Greetings, had scuttled the sale by failing to pay by the deal's June 7, 2009, deadline. U.S. District Judge James Gwin said in April 2010 that this failure had caused a key...
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