Lifestyle Enterprises Settles Patent Infringement Suit with Phase-Out/Monetary Payment to Furniture Brands' (FBN) Thomasville Unit
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Furniture Brands International (NYSE: FBN) has settled its patent infringement lawsuit against Lifestyle Enterprises, Inc. The lawsuit was brought by Thomasville Furniture Industries, one of Furniture Brands' operating units.
Thomasville brought the lawsuit against Lifestyle based upon the infringement of Thomasville's long-running Irving Park Collection.
As part of the settlement, Lifestyle has agreed to a limited phase-out of existing inventory to select customers, and agreed to make a monetary payment to Thomasville. The parties have declined further comment on the settlement.
Furniture Brands International, Inc. (Furniture Brands) is engaged in the business of designing, manufacturing, sourcing, and retailing home furnishings. Furniture Brands serves customers through various furniture brands such as Broyhill, Lane, Thomasville, Drexel Heritage, Henredon, Pearson, Hickory Chair, Laneventure and Maitland-Smith.[SM]
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