Getting your player ready...
Crocs Inc., the Niwot-based maker of plastic clogs, and Skechers USA Inc. have agreed to settle all outstanding litigation over patent-infringement claims.
Skechers will stop making and selling some “molded footwear styles” under the agreement reached this week, the companies said Wednesday in a statement. Other terms weren’t disclosed.
Crocs, whose stock has dropped 96 percent this year, is fighting to bar copycats to its shoes amid falling sales.
Crocs sued Manhattan Beach, Calif.-based Skechers in July over its foam clogs sold under names that included “Low Tide,” “Gypsies,” “Wooly Bully” and “Waterbug.” Skechers denied all allegations and filed counterclaims against Crocs.
