I have taken this story from FoxNews.com which got it from the Wall Street Journal. Although I cannot find the original story it is very interesting and I thougth I would bring it to you guys…
Here is the link but I am reporting the same story here
Handbag maker Coach Inc. (COH) said it has been awarded $257 million in a lawsuit against people and businesses selling counterfeit Coach merchandise.
“The magnitude of this judgment underscores the severity and illegality of counterfeiting, and sends a clear message that our courts will enforce the law,” Coach General Counsel Todd Kahn said. “This judgment should serve as a warning to everyone involved in any aspect of trafficking in counterfeit goods that Coach will find you and will seek to impose the harshest penalties available against you.”
Coach said it has obtained a default judgment in a lawsuit filed in Illinois Federal Court against individuals and businesses that operate websites selling counterfeit Coach merchandise.
The judgment also awards Coach the ownership of 573 internet domain names, which are the websites from which defendants conducted their illegal operations, and all of which included the word “Coach” in the domain name.
In an effort to crack down on counterfeiting of its products, Coach launched a litigation campaign it calls “Operation Turnlock” in May 2009. The company said since then it has “filed lawsuits and obtained significant monetary awards against virtually every link in the chain of counterfeit distribution, including manufacturers, wholesalers, retail operators, those operating websites, as well as flea market operators and landlords who provide a location from which others sell counterfeit merchandise.”
Last month, Coach reported that rising overseas revenue had helped lift its profit for the third quarter by 3%, a relative bright spot in an industry worried that sluggish economies around the world will dent luxury sales.
Shares closed Thursday at $57.19 and were inactive in recent premarket trading. The stock has risen 14% in the past three months.
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