Press release from Business Wire
Coach Awarded $257 Million Default Judgment in Anti-Counterfeiting Case
<p class='bwalignc'> <i><b>Takes Ownership of Over 500 Websites</b></i> </p>
Friday, November 02, 2012
Coach Awarded $257 Million Default Judgment in Anti-Counterfeiting Case07:00 EDT Friday, November 02, 2012
NEW YORK (Business Wire) -- Coach, Inc. (NYSE:COH) (SEHK:6388), a leading marketer of modern classic
American accessories, today announced that it has obtained a default
judgment of $257 million 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.
This judgment is the latest victory in Coach's campaign against
counterfeiters. Coach launched its comprehensive anti-counterfeiting
litigation campaign, known as “Operation Turnlock” in May of 2009.
Operation Turnlock was designed to make business increasingly more
difficult for those involved in any aspect of trafficking in counterfeit
goods.
“The magnitude of this judgment underscores the severity and illegality
of counterfeiting, and sends a clear message that our courts will
enforce the law. 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,” said Todd Kahn, Executive Vice President and General
Counsel of Coach.
“In addition to the award, obtaining the domain names used by defendants
in this case is a tremendous achievement. All the illegal websites
operated by defendants include the word “Coach” in the domain name (also
known as the website address) which potentially confuses consumers into
believing that they are purchasing genuine Coach merchandise,” said
Nancy Axilrod, Vice President and Deputy General Counsel of Coach.
Since the inception of Operation Turnlock, Coach 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.
Coach, with headquarters in New York, is a leading American marketer of
fine accessories and gifts for women and men, including handbags, men's
bags, women's and men's small leathergoods, weekend and travel
accessories, footwear, watches, outerwear, scarves, sunwear, fragrance,
jewelry and related accessories. Coach is sold worldwide through Coach
stores, select department stores and specialty stores, and through
Coach's website at www.coach.com.
Coach's common stock is traded on the New York Stock Exchange under the
symbol COH and Coach's Hong Kong Depositary Receipts are traded on The
Stock Exchange of Hong Kong Limited under the symbol 6388.
Neither the Hong Kong Depositary Receipts nor the Hong Kong
Depositary Shares evidenced thereby have been or will be registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States or to, or for
the account of, a U.S. Person (within the meaning of Regulation S under
the Securities Act), absent registration or an applicable exemption from
the registration requirements. Hedging transactions involving these
securities may not be conducted unless in compliance with the Securities
Act.This press release contains forward-looking statements based on
management's current expectations. These statements can be identified by
the use of forward-looking terminology such as "may," "will," "should,"
"expect," “confidence,” “trends,” "intend," "estimate," "on track," "are
positioned to," “on course,” “opportunity,” “become,” “forward,”
"continue," "project," "guidance," “target,” "forecast,” “achieve,”
"anticipated," or comparable terms. Future results may differ materially
from management's current expectations, based upon risks and
uncertainties such as expected economic trends, the ability to
anticipate consumer preferences, the ability to control costs, etc.
Please refer to Coach's latest Annual Report on Form 10-K for a complete
list of risk factors.
CoachAnalysts & Media:Andrea Shaw Resnick, 212-629-2618SVP
Investor Relations & Corporate Communications
