The Federal court has issued an order stating that it will dismiss the
lawsuit against JAKKS Pacific, Inc. (NASDAQ:JAKK), its officers and
other defendants in the federal lawsuit initiated by World Wrestling
Entertainment, Inc. (WWE). The judge in the action captioned World
Wrestling Entertainment, Inc. v. JAKKS Pacific, Inc., et al.,
1:04-CV-08223-KMK in the U.S. District Court for the Southern District
of New York, stated in his order that the Court "has
determined that it will grant Defendants’
motions to dismiss Plaintiff’s Amended
Complaint”, and that a "comprehensive
opinion” "will be
issued in short order” in which "the
reasons for this decision are explained in detail.”
The state court litigation among the parties remains pending.
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. (NASDAQ:JAKK) is a multi-brand company that designs
and markets a broad range of toys and consumer products. The product
categories include: Action Figures, Art Activity Kits, Stationery,
Writing Instruments, Performance Kites, Water Toys, Sports Activity
Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys,
Electronics, Dolls, Dress-Up, Role Play, and Pet Toys and Accessories.
The products are sold under various brand names including JAKKS Pacific®,
Play Along®, Flying Colors®,
Creative Designs International™, Road Champs®,
Child Guidance®, Pentech®,
Trendmasters®, Toymax®,
Funnoodle®, Go Fly a Kite®,
Color Workshop®, JAKKS Pets™
and Plug It In & Play TV Games™. JAKKS
and THQ Inc. participate in a joint venture that has worldwide rights to
publish and market World Wrestling Entertainment video games. For
further information, visit www.jakks.com.
This press release may contain forward-looking statements (within the
meaning of the Private Securities Litigation Reform Act of 1995) that
are based on current expectations, estimates and projections about JAKKS
Pacific's business based partly on assumptions made by its management. These statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict. Therefore,
actual outcomes and results may differ materially from what is expressed
or forecasted in such statements due to numerous factors, including, but
not limited to, those described above, changes in demand for
JAKKS' products, product mix, the timing of customer orders and
deliveries, the impact of competitive products and pricing, and
difficulties with integrating acquired businesses. The
forward-looking statements contained herein speak only as of the date on
which they are made, and JAKKS undertakes no obligation to update any of
them to reflect events or circumstances after the date of this release. ©
JAKKS Pacific, Inc. All Right Reserved.
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