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WWE and the Panini trading card company had a good thing, but then WWE wanted out of the deal so they could start things with Fanatics early. That resulted in lawsuit, and now we finally have resolution on the matter.
This lawsuit had many twists and turns. WWE was also denied restraining order motion along the way. Finally, there was light at the end of the tunnel, and the situation is over.
The lawsuit between WWE and collectibles company Panini has concluded after both parties accused each other of breaching their licensing contract. This was a messy situation, but now it is resolved.
Court documents, obtained by Paul Lesko, revealed that both parties informed the court of their settlement and requested the dismissal of the case with prejudice. This designation signifies that the case is permanently closed and cannot be brought back to life.
The dispute stemmed from a four-year agreement in March 2022, allowing Panini to create WWE-themed trading cards and stickers in exchange for royalty payments to WWE. However, Panini claimed WWE wrongfully attempted to terminate the contract and demanded $5.625 million in unpaid royalties.
In response, WWE filed its own complaint, asserting that it terminated the contract due to Panini’s alleged violation of the licensing agreement. Additionally, WWE contended that Panini was infringing on WWE’s intellectual property rights by continuing to sell WWE products. Panini’s website still offered cards featuring Bianca Belair, Dominik Mysterio, Roman Reigns, Cody Rhodes, and Seth Rollins.
Now, WWE will carry on with their planned agreement to produce trading cards with Fanatics. We will keep an eye on this situation for any further details, but it seems that this case is 100% closed.
What’s your take on this story with WWE’s latest lawsuit? Let us know what you think in the comments section!
November 22, 2023 10:07 am