SOURCE: Leatt Corporation

October 17, 2008 13:54 ET

Leatt Corporation Withdraws Suit Against Alpinestars

CAPE TOWN, SOUTH AFRICA--(Marketwire - October 17, 2008) - Leatt Corporation (PINKSHEETS: LEAT) (the "Company"), the distributor of the Leatt-Brace® Neck Brace System, designed to help prevent potentially devastating motor sport injuries to the cervical spine, today announced that the Company has withdrawn its design patent infringement action against Alpinestars S.P.A. and Alpinestars USA Inc. in the United States District Court for the Southern District of New York.

The Company has withdrawn its patent infringement suit against Alpinestars S.P.A. and Alpinestars USA Inc. ("Alpinestars") for importation and sale of Alpinestars' Bionic Neck Brace, not because of any weakness in the Company's case, but because the Company has concluded that Alpinestars' product is unlikely to gain even a toehold in the United States market. As a result, the Company believes that it should focus its efforts on promoting the Leatt-Brace® Neck Brace System in the United States, rather than on litigating this infringement claim. The Company withdrew its suit without prejudice, thus preserving its future rights against Alpinestars.

About Leatt Corporation:

Leatt Corporation is the exclusive global distributor of the Leatt-Brace®, a Neck Brace designed to prevent or lessen the severity of potentially devastating motor sport injuries to the cervical spine (the neck). The company's operations and research and development of its core products currently take place at Leatt Corporation's main offices in Cape Town, South Africa.

For more information on the Leatt-Brace®, please visit the company's website at www.leatt-brace.com, however, such information is not a part of this press release.

Safe Harbor Statement

This release may contain certain "forward-looking statements" relating to the business of Leatt Corporation and its subsidiary companies (collectively, the "Company"). All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the Company's ability to achieve its commercial objectives; the business strategy, plans and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "seeks," "intends," or "projects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, they do involve assumptions, risks and uncertainties, many of which are beyond the Company's control or ability to predict, and these expectations may prove to be incorrect or vary significantly from actual results. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact Information

  • Investor Relations Contact:

    Tim Clemensen
    Senior Vice President
    Rubenstein Investor Relations, Inc.
    Tel: +1 (212)843.9337
    Email: tclemensen@rubensteinir.com