SHANGHAI, Dec. 21, 2016 /PRNewswire/ -- Acorn
International, Inc. (NYSE: ATV) ("Acorn" or the "Company") has
announced that on December 2, 2016
the Company, received the final judgement from Shanghai Pudong
People's Court ("the Court") that Yongkang Jinqiu Fitness Equipment
Co., Ltd had infringed the Company's trademark for its Oukai BBJ
products and must pay Acorn monetary damages. This victory in court
represents a key symbolic step in Acorn's push to go after
intellectual property (IP) pirates in China and to continue to build its role as a
trusted partner for top foreign brands entering China.
As previously disclosed, Acorn continued to focus on growing
sales of its proprietary-branded products as
well as third-party branded products through e-commerce, its
other direct sales platforms as well as its nationwide distribution
network.
To support the success of this business model, Acorn has
launched an IP & Brand Protection Unit within the Company to
protect its brands and fight against intellectual property (IP)
infringers that are pirating the Company's IP rights. This new
initiative has enabled and will continue to enable Acorn to
increase revenues by taking back sales and market share from
competitors that are engaging in this illegal behavior and selling
counterfeit goods that violate Acorn's intellectual property
rights.
"As a Company focused on building our proprietary brands and
third party brands licensed by us in China, Acorn understands the importance of
protecting its intellectual property and cracking down on
counterfeiters that try to steal from us. Our newly established IP
& Brand Protection Unit will continue to go after these types
of counterfeiters through different means, including initiating IP
infringement lawsuits through court action. We have proven this
effort has had and will continue to have a direct and positive
effect on our business performance as we take back sales and market
share from counterfeiters," said Jacob A.
Fisch, President of Acorn.
Safe Harbor
Statement
This news release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "anticipates," "believes,"
"estimates," "expects," "future," "going forward," "intends,"
"outlook," "plans," "target," "will," and similar statements. Such
statements are based on management's current expectations and
current market and operating conditions, and relate to events that
involve known or unknown risks, uncertainties, and other factors,
all of which are difficult to predict and many of which are beyond
the Company's control, which may cause the Company's actual
results, performance, or achievements to differ materially from
those in the forward-looking statements. Further information
regarding these and other risks, uncertainties, or factors is
included in the Company's filings with the U.S. Securities and
Exchange Commission. The Company does not undertake any obligation
to update any forward-looking statement as a result of new
information, future events, or otherwise, except as required by
law.
About Acorn International, Inc.
Acorn is a marketing and branding company in China with a proven track record of
developing, promoting and selling a diverse portfolio of
proprietary-branded products, as well as well-established and
promising new products from third parties. Its business is
currently comprised of two main divisions, its direct sales
platforms and its nationwide distribution network. For more
information visit www.acorninternationalir.com.
Contact:
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Acorn International,
Inc.
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Compass Investor
Relations
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Ms. Naomi
Deng
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Ms. Elaine Ketchmere,
CFA
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Phone:
+86-21-5151-2944
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Phone:
+1-310-528-3031
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Email:
dengqi@chinadrtv.com
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Email: Eketchmere@compass-ir.com
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www.acorninternationalir.com
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www.compassinvestorrelations.com
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visit:http://www.prnewswire.com/news-releases/acorn-international-wins-trademark-infringement-lawsuit-following-establishment-of-ip--brand-protection-unit-to-defend-its-proprietary-and-licensed-brands-in-china-300382377.html
SOURCE Acorn International, Inc.