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4-Traders Homepage  >  Equities  >  Nasdaq  >  Crocs, Inc.    CROX

CROCS, INC. (CROX)
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Delayed Quote. Delayed  - 11/17 10:00:00 pm
10.71 USD   +0.09%
11/10 CROCS : Dawgs decade-long legal battle over clogs moves to Canadian ..
11/07 CROCS : beats 3Q profit forecasts
11/07 Crocs, Inc. Reports Third Quarter 2017 Results
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Crocs : Dawgs decade-long legal battle over clogs moves to Canadian courts

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11/10/2017 | 11:59pm CET

VANCOUVER — A legal battle between the maker of ubiquitous plastic clogs and a Saskatchewan footwear company escalated as both filed lawsuits against the other in Canada, moving a decade-long dispute outside the U.S.

Crocs, Inc. filed a suit against Saskatoon-based Double Diamond Distribution Ltd. earlier this month alleging the company, which makes and sells Dawgs shoes, infringes on its design.

Crocs said its mammoth clogs — the company's classic plastic clog with a backstrap — and its similar shearling lined version are protected by U.S. patents and a certificate of registration under Canada's Industrial Design Act.

The company alleged in its statement of claim that the competitor's so-called fleece Dawgs copy its product design.

None of the allegations have been proved in court.

Crocs wants Double Diamond to give them or destroy any of its products that mimic its Crocs design and unspecified financial damages, among other monetary pay outs.

"That's a very weak patent. I'm not too concerned about that," said Steven Mann, CEO of Double Diamond and its American counterpart, USA Dawgs Inc.

The company's lawyers are working on a statement of defence, Mann said, adding his design has about 35 differences when compared to the Crocs shoe.

He believes his clog competitor filed the suit as "a retaliation complaint" after his filing in a Saskatoon court targeting Crocs several days prior.

Double Diamond alleges Crocs misled consumers and retailers since 2003 by claiming the Croslite material it uses to make all its shoes is patented.

The statement of claim alleges the material was never patented and points to recent financial filings where the company says Croslite is not patented, despite promotional material claiming otherwise. The false statements steered business away from competitors to Crocs, it reads.

None of the allegations have been proven in court, and Crocs, which has yet to file a statement of defence, said they are without merit.

"Any allegations made by Dawgs are a tactic to harass the company and its employees," the statement read.

Merchant Law Group LLP, which is representing Double Diamond, also launched a class-action lawsuit a few days later on behalf of lead plaintiff Timothy Ducie and anyone who has purchased Crocs made with Croslite. The suit makes the same allegations.

Crocs denies the allegations in that suit as well.

Mann said he filed his suit as "a survival move" and said the two companies have been embroiled in legal battles since 2006 with similar suits ongoing in the States.

Follow @AleksSagan on Twitter.

© 2017 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials ($)
Sales 2017 1 011 M
EBIT 2017 17,8 M
Net income 2017 1,85 M
Finance 2017 148 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 52,89
EV / Sales 2017 0,61x
EV / Sales 2018 0,59x
Capitalization 769 M
Chart CROCS, INC.
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Crocs, Inc. Technical Analysis Chart | CROX | US2270461096 | 4-Traders
Technical analysis trends CROCS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Average target price 8,93 $
Spread / Average Target -17%
EPS Revisions
Managers
NameTitle
Andrew Rees President, Chief Executive Officer & Director
Thomas J. Smach Chairman
Carrie W. Teffner Chief Financial Officer & Executive Vice President
Ronald L. Frasch Independent Director
Doreen A. Wright Independent Director
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