The WWE and collectibles company Panini are nearing the end of their lawsuit, which was initiated after both parties accused each other of breaching their licensing contract. In March 2022, they entered into a four-year agreement that allowed Panini to create WWE-themed trading cards and stickers in exchange for royalty payments to WWE.
Panini claimed that WWE attempted to terminate the deal prematurely and demanded $5.625 million in outstanding royalty payments. On the other hand, WWE filed its own complaint, stating that it terminated the contract due to Panini’s alleged breach of the licensing agreement. WWE also accused Panini of infringing on their intellectual property rights by continuing to sell WWE products.
Recent court documents, as revealed by Paul Lesko, suggest that the lawsuit is nearing an end.
Potential BIG update in the Panini/WWE lawsuit.
In a letter to the court, the parties note that “discussions between the parties and their counsel have resulted in an agreement in principle. The parties are in the process of memorializing that agreement in a signed writing.” pic.twitter.com/4is99RyFdQ
— Paul Lesko (@Paul_Lesko) November 15, 2023
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The WWE (World Wrestling Entertainment) and collectibles company Panini have been embroiled in a lawsuit over their licensing contract. However, recent court documents suggest that the lawsuit is nearing an end.
In March 2022, WWE and Panini entered into a four-year agreement that allowed Panini to create WWE-themed trading cards and stickers. In exchange, Panini was required to make royalty payments to WWE. However, both parties accused each other of breaching the contract.
Panini claimed that WWE attempted to terminate the deal prematurely and demanded $5.625 million in outstanding royalty payments. On the other hand, WWE filed its own complaint, stating that it terminated the contract due to Panini’s alleged breach of the licensing agreement. WWE also accused Panini of infringing on their intellectual property rights by continuing to sell WWE products.
The latest development in the lawsuit came to light through court documents shared by Paul Lesko. The documents revealed that discussions between the parties and their counsel have resulted in an agreement in principle. The parties are now in the process of finalizing the agreement in a signed writing.
This news indicates that the WWE and Panini are close to resolving their legal dispute. While the exact terms of the agreement have not been disclosed, it is a positive step towards ending the lawsuit and potentially restoring their business relationship.
For fans of WWE and collectors of wrestling memorabilia, this resolution could mean the continuation or even expansion of WWE-themed trading cards and stickers produced by Panini. It also ensures that WWE’s intellectual property rights are protected.
As the lawsuit nears its end, wrestling enthusiasts can stay updated on all the latest news and developments by visiting eWrestlingNews.com. The website provides comprehensive coverage of wrestling news and events. Additionally, fans can follow eWrestlingNews on Twitter and Facebook for real-time updates and engaging content.
In conclusion, the WWE and Panini’s lawsuit appears to be coming to a close. The parties have reached an agreement in principle, and they are currently finalizing the details. This development brings hope for the future of WWE-themed collectibles and signals a potential resolution to their legal disputes. Wrestling fans can stay informed by visiting eWrestlingNews.com or following the website on social media.