Auctionbytes-NewsFlash, Number 2058 - June 15, 2009 - ISSN 1539-5065
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Amazon.com Pays Toys 'R' Us $51 Million to Settle Dispute
By Ina Steiner
AuctionBytes.com
Reading AuctionBytes: Amazon.com Pays Toys 'R' Us $51 Million to Settle Dispute
Amazon.com will make a one-time payment of $51 million to Toys "R" Us for dismissal of all claims and counterclaims and mutual releases, it reported in a June 12th SEC filing.
MSNBC has a comprehensive article about the ruling, the judge's opinion of Amazon.com CEO Jeff Bezos' testimony, and a quote from Amazon.com Patty Smith that reveals Amazon disagrees with the ruling and is reviewing its options.
Link to SEC filing
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Amazon.com has entered into a settlement agreement in a lawsuit with Toys "R" Us. Toysrus.com, a subsidiary of Toys "R" Us Inc., had filed a lawsuit against Amazon.com in 2004 to protect its exclusivity rights in the Toy and Game and Baby Products categories on the Amazon.com platform. 