Yamaha Motor Corporation, U.S.A. and Yamaha Motor Co. Ltd. announced that they reached a settlement yesterday in their lawsuit against defendant Patriot Motorcycles Company [Pink Sheets: PMCY]. The parties have agreed to enter into a Consent Judgment on issues raised in the lawsuit. Yamaha Motor Corporation, U.S.A., et. al. v. Yamoto Motor Corporation, et. al., Case No. CV05-7351 RSWL (JTLx).
On October 12, 2005, Yamaha filed suit against Yamato Motor Corporation and others in Los Angeles Federal Court for trademark infringement, trademark dilution, false designation of origin, false advertising, copyright infringement and unfair competition. The case remains open as to co-defendant Yamoto. Yamaha is the original designer, manufacturer and seller of the Raptor(tm) line of ATVs and TT-R125 off-road motorcycles and sought a permanent injunction against Yamoto.
"Yamaha is pleased to have reached a settlement with Patriot Motorcycles Company in such a timely manner," said Russell Jura, General Counsel of Yamaha Motor Corporation, U.S.A.
"Patriot wants to move forward," said Michel Attias, Chief Executive Officer of Patriot. "We will continue to remain in the U.S. market and will provide our customers with affordable products for the entire family that are defined by our own unique qualities and features."
Jura concluded: "While we have settled with Patriot, our trademark infringement case against Yamoto Motor Corporation will continue. Yamaha will not tolerate Yamoto's fraudulent, deceptive imitation of its trademarks, copyrights and appearance of its products. Since Yamoto has not yet approached us about a settlement as Patriot did, our intention is to litigate this case against Yamoto Motor Corporation through trial."