Hasbro Sues Two Competitors - TheStreet

Hasbro Sues Two Competitors

Children's toymaker Hasbro is suing competitors Buzz Bee Toys and Lanard Toys over alleged patent infringements.
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NEW YORK (TheStreet) -- Children's toymaker Hasbro (HAS) - Get Report is suing competitors Buzz Bee Toys and Lanard Toys over alleged patent infringements.

The brands in focus are the NERF and SUPER SOAKER brands.

Hasbro is seeking monetary compensation from both companies for the alleged illegal use of Hasbro's patent technology. It filed the lawsuits in a federal court in Springfield, MA.

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"Hasbro aggressively protects its brands and products and the action we have taken today is part of Hasbro's plans to vigorously pursue companies who misappropriate our intellectual property for their own profit," a Hasbro spokesman said in a written statement.

"Our NERF and NERF SUPER SOAKER brands are incredible assets, and this action was taken in the best interests of our company and our shareholders."

Hasbro is seeking to prevent both companies from their alleged infringement of two U.S. patents related to the NERF N-STRIKE DISC SHOT blaster.

Furthermore, Hasbro is suing Buzz Bee Toys for allegedly infringing on a NERF SUPER SOAKER water product patent.

Hasbro stock has risen 1.5% to $39.96.

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-- Reported by Andrea Tse in New York

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