27th Jan 2015 15:19
LONDON (Alliance News) - Fitbug Holdings PLC Tuesday said a US court has ruled in Fitbit Inc's favour on the defence of laches, or an unreasonable delay by the plaintiff in bringing the claim to court in its trademark dispute.
Fitbug took legal action against Fitbit Inc in September 2013, based on unfair competition, trademark infringement, and unfair business practice.
Tuesday, Fitbug said the the District Court for the Northern District of California, San Francisco Division has granted summary judgement in Fitbit's favour on the defence of laches, said Fitbug.
Laches are a defence to an equitable action, that bars recovery by the plaintiff because of the plaintiff's undue delay in seeking relief.
Fitbug is "currently in discussions with its legal advisers and is considering its options," said the company.
Fitbug shares were down 26.3% to 4.70 pence per share on Monday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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