LOS ANGELES - A LOS Angeles law firm that sued the Franklin Mint for marketing Princess Diana memorabilia has agreed to pay the mint's former owners US$25 million (S$32 million) to settle a malicious prosecution lawsuit.
The settlement was announced on Friday by Stewart and Lynda Resnick, whose company, Roll Global, sold the Franklin Mint in 2006. The couple said they would donate the money to charity, as they did with their share of a previous US$25 million settlement from The Diana Princess of Wales Memorial Fund.
'We never sought to gain financially from this effort, but we strongly believed in the underlying legal principles in this case and were prepared to see it through,' Stewart Resnick said.
The settlement caps a 13-year legal battle that began in 1998, a year after Diana was killed in a car crash.
The firm Manatt, Phelps & Phillips sued on behalf of the memorial fund, accusing the Franklin Mint of false advertising and diluting the value of Diana's name with its memorial plates purses and dolls.
After the suit was dismissed in 2000 the Resnicks countersued. -- AP
No comments:
Post a Comment