Amazon.com settles with Toys "R" Us, will pay $51 million |
Connect with TechFlash on our Facebook page for all the latest technology news headlines and commentary, plus information and access to special events, photos from events, promotions and more.
- Mobile payments: Tech titans move in, but consumers still trust banks
- Seattle ranks No. 1 in tech sector job growth
- Comcast follows Google and Intel, takes a hit on Clearwire deal
- Clearwire's stock tanks as Nokia exec calls WiMax a 'niche play'
- Handbag rental service Avelle cuts staff
- ITC sides with Microsoft in Motorola patent infringement case
Mass High Tech
Kindle News
- Seattle is nation's 13th most 'well-read' city, says Amazon
- Target confirms it will stop selling Kindle, other Amazon products
- U.S. sues Apple, book publishers for fixing e-book prices
- Publishing on the iPad: Displays, processors and licensing, oh my!
- Amazon's Kindle Fire eats into Apple's iPad tablet lead
Amazon.com settles with Toys "R" Us, will pay $51 million
Amazon.com has settled its longstanding lawsuit with Toys "R" Us and will pay the toy company $51 million, Amazon said in a regulatory filing Friday. The two companies formed a major ecommerce alliance in 2000 but the partnership dissolved in acrimony and the two companies have been battling it out in court for years.
The original pact between Amazon and Toys "R" Us was supposed to last a decade, bringing together Toys "R" Us merchandise with Amazon's ecommerce engine. But the deal soured after Toys "R" Us accused Amazon of breaking a deal to let the toy company be the exclusive supplier of some products.
Amazon in March lost an appeal of a New Jersey court’s 2006 order allowing Toys "R" Us to terminate the agreement, and Amazon at last report said it planned to appeal the case to the New Jersey Supreme Court.
In the regulatory filing, Amazon said it entered into a settlement agreement with Toys "R" Us and its affiliates on June 11. Amazon described the $51 million as a one-time payment and said it will be paid in the third quarter of 2009. The company said the payment will be charged to "Other operating expense" in the second quarter. Amazon said all claims and counterclaims are dismissed.
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
TechFlash Team
Recent Sponsor Posts
Follow, like, and connect to a broader audience for your company!
The Puget Sound Business Journal announces Social Madness: A Corporate Social Media Challenge, presented by Capital One Spark Business. This a local and national challenge that will spotlight the best social media programs of companies in 43 cities. The local challenge begins (following the nomination period) on June 1, 2012. The promotion will culminate in a national bracket challenge that will crown Social Madness champions in 3 categories based on company size. To see the official rules, visit http://www.socialmadness.com/rules.
For more information on how your company can participate, visit the nomination page here. Nominations are due May 15th.
BizDev Seminar Series - Leadership: Rallying People to a Brighter Future
Join us for this one-of-a-kind seminar series where you hear directly from the experts about hot topics to grow your business.
The skills to be effective as a leader can be learned. What are the skills and attributes needed to be effective top leaders? How do you tell what level your people are at, and what development skills each person needs? Workshop attendees will learn the answers to these questions and more.
Tuesday, May 17, 2012
8:30am - 10:30am
The Harbor Club, Seattle
Register here.
