ST. LOUIS, Jan. 8, 2009 (GLOBE NEWSWIRE) -- Furniture Brands International (NYSE:FBN) announced today that it has successfully settled its patent infringement lawsuit against Lifestyle Enterprises, Inc. The lawsuit was brought by Thomasville Furniture Industries, one of Furniture Brands' operating units.
Thomasville brought the lawsuit against Lifestyle based upon the infringement of Thomasville's long-running Irving Park Collection. With regard to the settlement, Thomasville President Ed Teplitz said, "We are pleased to have resolved this matter amicably, and at the same time in a manner that reinforces Thomasville's steadfast commitment to its brands and distinctive designs."
Furniture Brands Chairman and Chief Executive Officer Ralph P. Scozzafava added, "Protecting innovation is a crucial part of our business, and we will work hard to maintain our design leadership in the industry. Furniture Brands will take full advantage of the laws that provide an incentive to develop new products and provide protection in the marketplace."
As part of the settlement, Lifestyle has agreed to a limited phase-out of existing inventory to select customers, and agreed to make a monetary payment to Thomasville. The parties have declined further comment on the settlement.
About Furniture Brands
Furniture Brands International (NYSE:FBN) is a vertically integrated operating company that is one of the nation's leading designers, manufacturers, and retailers of home furnishings. It markets through a wide range of retail channels, from mass merchant stores to single-brand and independent dealers to specialized interior designers. Furniture Brands serves its customers through some of the best known and most respected brands in the furniture industry, including Broyhill, Lane, Thomasville, Drexel Heritage, Henredon, Pearson, Hickory Chair, Laneventure, and Maitland-Smith.
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