Online fashion group ASOS has reached a global settlement regarding trade mark infringement disputes with high-performance cycle wear manufacturer Assos of Switzerland GmbH and German menswear retailer, Anson's Herrenhaus KG.
The disputes have resulted in several cases being heard in court, as well as multiple trade mark registry actions around the world.
Agreements have been entered into whereby ASOS is to pay a total of £20.2 million in cash, in a full, final and global settlement of all outstanding litigation with each of Assos and Anson's, securing a comprehensive co-existence for all parties.
The payment will be reported as an exceptional item at the year end.
At 8:55am: (LON:ASC) ASOS Plc share price was +33.5p at 4595.5p