Porsche suing Crocs
Doesn't like usage of the word "Cayman" to describe shoe
Porsche is suing shoe company Crocs (CROX) because it doesn't like the way the company named one of its product lines the Crocs Cayman. That's because it would be so easy to, you know, confuse a luxury sports car with a rubber shoe.
But you gotta protect your brand, I guess, and so Porsche is asking Crocs to immediately stop using the word Cayman and to pay Porsche's attorney's fees.
Porsche says it has trademarked the word "Cayman."
The excellent Footnoted blog, which has the story, says that if this lawsuit had been filed in the U.S. (instead of Germany), we'd be quick to dismiss it.
But it was filed in Germany, and Crocs had to hire a law firm there to defend itself.
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Bill Stiritz owns more than 5% of the company, and has experienced an estimated $145 million in paper losses on his investment.
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