FOOTHILL RANCH, Calif., July 19, 2005 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) and Kaenon, LLC announced today the settlement of the patent infringement lawsuit filed by Oakley in the federal court in the Central District of California. By way of the lawsuit, Oakley claimed that five Kaenon models infringed three of Oakley's XYZ(r) optic patents regarding the minimization of prismatic distortion throughout the eyewear lens. Kaenon denied Oakley's allegations.
Kaenon acknowledges the high quality and innovative technology of Oakley's XYZ(r) optics products in the correction of prismatic distortion.
The parties have agreed to settle the case on mutually acceptable terms, including Kaenon's agreement that it will not infringe Oakley's XYZ(r) patent claims in the future.
About Oakley, Inc.
Oakley: a world brand, driven to ignite the imagination through the fusion of art and science. Building on its legacy of innovative, market-leading, premium sunglasses, the company also offers performance apparel and accessories, prescription eyewear, footwear, watches and electronics to consumers in more than 100 countries. Trailing-12-month net sales through March 31, 2005 totaled $598.6 million and generated net income of $44.7 million. Oakley, Inc. press releases, SEC filings and the company's annual report are available at www.oakley.com.
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