Skechers USA Inc. has settled litigation with rival Crocs Inc. that will require the trendy Manhattan Beach shoe maker to stop making products similar to Crocs’ signature plastic clogs, the companies said Wednesday.
Manhattan Beach-based Skechers and Niwot, Colo.-based Crocs did not disclose any settlement terms, but said their agreement should settle all outstanding litigation within the next 30 days.
In a lawsuit filed in a U.S. District Court action in Colorado, Crocs contended that Skechers had infringed on a number of Crocs’ patents. Skechers denied the allegations and filed counterclaims against Crocs.
Skechers shares were up 39 cents, or 3.5 percent, to $11.78 in morning trading on the New York Stock Exchange.