Malibu Boats agreed to pay $20 million in cash to settle an intellectual property rights lawsuit by Pacific Coast Marine Windshields Ltd., resulting in a net loss for the fourth quarter.
Trade Only follows developments in lawsuits that can have a significant effect on companies or sections of the worldwide marine industry.
Arctic Cat filed a patent-infringement lawsuit against Bombardier Recreational Products and BRP U.S. on Thursday, alleging that the makers of Sea-Doo personal watercraft infringed on Arctic Cat’s intellectual property regarding off-throttle steering.
Four executives at New Nautical Coatings, doing business as Sea Hawk Paints and Sea Hawk Refinish Line, pleaded guilty in U.S. District Court in Florida to criminal charges in connection with a scheme to unlawfully sell a marine coating that contained an unregistered pesticide.
The U.S. Court of Appeals for the Eleventh Circuit ruled that a yacht owner is not liable for additional costs incurred by a third party in the overland transportation of a yacht if the owner had no knowledge of or contract with that third party.
A Michigan lawyer who was a passionate sailor was sentenced last week to more than five years in federal prison for bank fraud and money laundering.
The mother of a 14-year-old South Carolina girl injured in a boating accident, causing her thumb to be amputated, is suing Myrtle Beach tourism leader James Matthew Brittain and Murrells Inlet Epiphany over the incident, according to federal court documents.
Caterpillar Inc. agreed to pay $46 million to settle litigation over a marine engine that caught fire at a Mobile, Ala., shipyard in 2008, the law firm Cunningham Bounds LLC said last week.
Colin A.J. Chisholm and his wife, Andrea, are in jail in Minnesota, but for years they lived the life of the rich and famous, buying an 83-foot Trumpy motoryacht and living in luxury homes in Minnesota and Florida.
U.S. Rep. Steve Israel, D-N.Y., is introducing legislation that would require new boats up to 45 feet to display maximum capacity signs, the most recent legislative response to an accident nearly two years ago that left three children dead after a 34-foot boat carrying 27 people capsized on Long Island Sound.
Federal prosecutors charged a Florida paint and coatings manufacturer with conspiring to unlawfully produce and continue sales of a bottom paint containing the pesticide tributyltin methacrylate, or TBT, and falsely representing to customers and distributors that it was in compliance with federal law.