Sam's Club, Fendi settle dispute |
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Wed, 06 Jun 2007 17:53
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NEW YORK (AP) - Wal-Mart Stores Inc.'s Sam's Club warehouse-club division, luxury bag maker Fendi SRL and Fendi North America Inc. said Wednesday they settled a dispute related to litigation that Fendi has pending against several retailers.Fendi claimed in the suit that Sam's Club and other retailers sold counterfeit bags and other products under the Fendi label.Under terms of the settlement, Sam's Club will pay Fendi an undisclosed amount, and Fendi will dismiss the lawsuit against Sam's Club. Also, Sam's Club will allow its members to return any Fendi-label merchandise for a full refund.Sam's Club has removed all Fendi-labeled bags, wallets and scarves from its shelves.Wal-Mart shares rose 23 cents to $50.75 in Wednesday afternoon trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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