CARLSBAD, Calif., Mar 07, 2005 (BUSINESS WIRE) -- Orange 21 Inc. (Nasdaq:ORNG), a developer of premium
optical products, today announced that it has received a
cease-and-desist letter from Oakley, Inc. with respect to patent and
trademark issues involving three of its product styles. These three
product styles accounted, in the aggregate, for less than 4% of Orange
21's sales for the 2004 fiscal year.
Orange 21 has reviewed the claims made by Oakley and believes them
to be without merit. The originality and authenticity of its product
designs has firmly positioned Orange 21 in the action sports and youth
lifestyle markets. Orange 21 believes the letter and threatened
litigation is far less about any confusion or common features between
the companies' products and more about the growing appeal of Orange
21's products, under the brand Spy Optic, to an audience which is
important to Oakley.
Orange 21 will seek coverage under its insurance policies with
respect to any claims made against it, although there can be no
guarantee as to the extent that such coverage will be available, if at
all.
About Orange 21
Orange 21 develops brands that produce premium optical products.
Orange 21's brands include Spy Optic, which manufactures sunglasses
and goggles targeted towards the action sports and youth lifestyle
market, and E Eyewear, which manufactures the signature Dale
Earnhardt, Jr. sunglass line.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Certain statements contained in this press release
are not historical facts and may be considered forward-looking
statements, which are based upon a number of assumptions concerning
future conditions that ultimately may prove to be inaccurate. Forward
looking statements in this release include statements involving the
merits of the claims by Oakley, the merits of any assertions by Orange
21 that Oakley's products infringe Orange 21's intellectual property
rights and the outcome of any litigation between the companies over
these matters. Forward-looking statements can be identified through
the use of words such as expect, believe, intend, should, could, can,
would, estimate, predict, potential, plan or the negative formulation
of these words, and similar expressions. Such forward-looking
statements are subject to risks and uncertainties and may be affected
by various factors that may cause actual results to differ materially
from those in the forward-looking statements. Further information on
potential risk factors that could affect Orange 21's business and its
financial results are detailed in its filings with the Securities and
Exchange Commission, including its Registration Statement on Form S-1
declared effective on December 13, 2004. Undue reliance should not be
placed on forward-looking statements, which speak only as of the date
that they are made.
SOURCE: Orange 21 Inc.
Integrated Corporate Relations
Investor Relations:
Andrew Greenebaum/Allyson Pooley, 310-395-2215
agreenebaum@icrinc.com/apooley@icrinc.com
