Jewellery maker Pandora A/S (OMX: PNDORA) has to continue to pay royalties to competitor Lise Aagaard after Supreme Court of Denmark Højesteret today ruled in the latters favour in the case of Lise Aagaard Copenhagen A/S against Pandora Production Co. Ltd stating that the agreements between the two companies were binding in the absence of invalidity that Pandora was claiming. The Supreme Court did not consider it proven without doubt that the license agreements involving assistance in starting production of glass beads was intended to restrict competition.
Lise Aagard is a member of Nielsen/Aagaard family known for Trollbeads and other innovative jewelry. The ruling means Pandora needs to pay million in royalties and also has to cover 825.000 kroner in opponents legal fees. The stock shed 4% in today’s trading on the news. The entire ruling is available in Danish here.
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