SurfStitch, an online market for surfers, action sports enthusiasts, and people who just want to look the part, is wiping out BIG time. The e-commerce company that was once “ripping it” on the stock market, has become a cautionary tale, by losing over $500 million in value, since November of last year.
When Australian surfer Lex Pedersen and investment banker Justin Cameron launched SurfStitch in 2008, they hoped to become … More
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A Florida jury sided with Hagens Berman client Arctic Cat, finding that the defendants willfully infringed two Arctic Cat patents and awarding damages of approximately $15.5 million. The verdict was handed down in a patent-infringement suit filed by Arctic Cat against Bombardier Recreational Products Inc. (TSE: BBD.B) and BRP U.S. Inc. alleging that the makers of the Sea-Doo jet propulsion personal watercraft (PWC) committed willful infringement.
The complaint, filed in the U.S District Court for the Southern District of Florida, alleged … More
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The World Surf League (WSL) has announced the acquisition of a majority stake in the Kelly Slater Wave Company (KSWC).
The pro surfing tour aims to build “a global network of WSL-branded high-performance training centers” with the surf pool concept designed by Kelly Slater.
The deal is inked via … More
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Despite a weak economy that is impacting sales in its powersports business, Polaris Industries (NYSE: PII) is still smoking the tires in motorcycles, giving it the horsepower to take on the industry behemoth, Harley-Davidson (NYSE: HOG).
In its just-completed first-quarter earnings report, Polaris said motorcycle sales were going full throttle at 18% year-over-year growth while the overall large-bike industry — the 900 cubic-centimeters-and-up market — was relatively flat. Moreover, since Harley-Davidson continues to report falling motorcycle sales, it means Polaris is stealing more market share from its rival. Harley may still own half the U.S. market, but Polaris is quickly gaining, and it soon may be a … More
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