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Last Updated:
Feb 28th, 2007 - 17:15:28 |
Many of our customers have followed the court cases involving the FasTags� brand. After the original FasTags corporation was forced into bankruptcy on the eve of trial over the objections of Cynthia Kirkeby in 2002, the bankruptcy trustee joined her in continuing the lawsuit for fiduciary breech against her former partner.
In 2003, Cynthia Kirkeby repurchased the assets of her original company from the bankruptcy court and reopened the company under the new corporate name of Project FasTags, Inc. Unfortunately, it was then necessary to file a copyright and trademark infringement case, because her former partner had infringed on number of the tag designs, as well as the FasTags� packaging design.
In December 2004, on the eve of trial in the Federal Court, a global settlement was reached in favor of Project FasTags Inc., the original company, FasTags Inc.(now being represented by the bankruptcy trustee), and Cynthia Kirkeby.BR>
As part of the settlement, the following was accomplished:
- The FasTags Inc. estate received enough to pay in full the vendors who had outstanding claims at the time of the bankruptcy, as well as enough to reimburse the estate and Cynthia Kirkeby for some of the legal fees that had been expended.
- Project FasTags Inc. was paid a substantial amount for damages caused by the infringements on the trademarks and copyrights.
In addition to the above settlement payments our direct competitor, Ms. Kirkeby's former partner�s new company, was required to:
- Cease selling, and subsequently destroy, tags that infringed on our original designs.
- Redesign their packaging so that it no longer infringes on our original copyrighted and trademarked packaging.
- Redesign their logo, so that it no longer infringes on our trademarked logo.
- Change the color of their paw design to eliminate confusion in the marketplace.
For those dealers who were kind enough to come to our assistance with testimony during this time, we thank you from the bottom of our hearts. Hopefully, the terms of the agreement will be fulfilled and life will get back to normal. We would also like to thank all of the dealers who have chosen to purchase the Original FasTags� brand product. We look forward to offering you outstanding service for years to come.
Sincerely,
The entire staff at Project FasTags, Inc.
Accept no substitute. Buy FasTags� The Original Shrinking ID Tags.
© Copyright by FasTags.com
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