Bristol, PA, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Wicked Cool Toys and its co-founder, Jeremy Padawer, were sued by rival toymaker JAKKS Pacific (NASDAQ: JAKK) in New York Supreme Court on Friday. The complaint asserts various tortious interference as well as breach of fiduciary duty claims that are premised on the recent award to Wicked Cool Toys of a worldwide license to the renowned Cabbage Patch Kids line and the concurrent termination of JAKKS's more limited license.
Wicked Cool Toys believes these claims are entirely without merit and intends to vigorously defend itself from what it considers are baseless allegations. As the new steward of the iconic Cabbage Patch Kids brand, Wicked Cool Toys believes that it is unfortunate that JAKKS would compete in this fashion. It looks forward to having its day in court where all the issues can be fully aired, and thanks all of its partners and colleagues, especially OAA, for their continued support. The company will continue to work with the highest level of professionalism and integrity for which it has come to be known.
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About Wicked Cool Toys
Wicked Cool Toys, LLC is a Pennsylvania-based toymaker with offices in Pennsylvania, California and Hong Kong. Founded in the Summer of 2012, Wicked Cool has a diverse portfolio of playthings for all ages. The Wicked Cool Toys is led by US Co-Presidents Michael Rinzler and Jeremy Padawer, and Thomas Poon in Hong Kong. The Company develops and brings to market proprietary lines and licensed product, including Cabbage Patch Kids®, GSUSA®, MasterChef Junior®, WWE®, Wild Kratts, Teenage Mutant Ninja Turtles®, Garfield, The Wiggles, Crashlings, My Girl's Dollhouse, Vrüm, Disney Princess®, Minnie Mouse®, Marvel®, Batman®, Superman®, Iron Man®, Sponge Bob®, Sesame Street, Dora the Explorer®, and Monster Jam®. Visit www.wickedcooltoys.com and follow the Company on both Facebook and Twitter. www.facebook.com/wickedcooltoys @wickedcooltoys