other material
confidence high
sentiment positive
materiality 0.80
VPR Brands settles ELF trademark lawsuit; Safa Goods to pay $5.3M plus royalties
VPR Brands, LP.
- Settlement with Safa Goods LLC resolves lawsuits against Shenzhen Weiboli and distributors over ELFBAR products infringing VPR's ELF trademark and patent.
- Safa to pay $5,300,197 in 18 equal monthly installments plus $50,000 attorneys' fees.
- VPR grants Safa three-year license to ELF trademark and U.S. patent 8,205,622; royalty rates: 9% (pre-Weiboli resolution), 4.5% (post-resolution or if purchased from ELF Brand LLC).