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
lsharp@aob.com
(573) 303-4620
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SOURCE American Outdoor Brands, Inc.
