"We can continue to concentrate on building our business with the full knowledge that our rights in regard to the DeLorean automobile brand are protected as we move forward."
Houston, Texas (PRWEB) October 20, 2015
On February 21, 2014, DeLorean Motor Company was sued in the United States Federal District Court for the District of New Jersey (Civil Action No.2:14-cv-01146-JLL-JAD File No. 4164-1), by the Estate of John Z. DeLorean, alleging the Estate had some rights to the trademark name and brand "DeLorean."
A settlement was reached with the Estate formally acknowledging that DeLorean Motor Company has the rights to the trademarks and names associated with "DeLorean", The "DeLorean Motor Company", "DMC" and all related rights to use the DeLorean automobile brand, and associated products and services.
As part and parcel to the settlement, the insurance company for the DeLorean Motor Company made a confidential de minimus payment to the Estate.
"We are happy to put this lawsuit and distraction behind us", stated Stephen Wynne, CEO of DeLorean Motor Company. "We can continue to concentrate on building our business with the full knowledge that our rights in regard to the DeLorean automobile brand are protected as we move forward."
About DeLorean Motor Company
DeLorean Motor Company specializes in the service, restoration and sales of DeLorean cars and parts from its 40,000 square foot headquarters in suburban Houston, Texas and affiliated dealers in Florida, Illinois, Washington and California.