SOURCE: Leatt Corporation

September 13, 2010 10:53 ET

Leatt Corporation Is Awarded Default Judgment Against Innovative Safety Technology LLC

CAPE TOWN, SOUTH AFRICA--(Marketwire - September 13, 2010) -  Leatt Corporation, a Nevada corporation (PINKSHEETS: LEAT) (Company), and the developer of the Leatt-Brace®, a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the neck, today announced that they have been awarded a Default Judgment and a damages award of USD $200,000 against Innovative Safety Technology LLC, a California limited liability company, (IST). The Company filed a complaint in the United States District Court for the Southern District of California, U.S.A. ("Court") against IST and other parties on June 16, 2009, which complaint alleged: misappropriation of trade secrets; unfair competition; and tortious interference and sought enforcement of a foreign arbitration award with regard to the neck brace called the "DefNder." The Court awarded a money judgment for $200,000 and enjoined IST "from any further misappropriation, use, disclosure, manufacture, importation, marketing, sales, or offers for sale of products containing Leatt's trade secrets for a period of two years after entry of this default judgment."

"We are thrilled with the outcome and have once again shown our commitment to protecting our Intellectual Property rights worldwide," said acting Company Chief Executive Officer Sean Macdonald.

Leatt Corporation: Since 2006, we have produced and sold worldwide a line of Neck Brace Systems for adults and children that are designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck) among motorcycle, ATV and other motor vehicles. Our product line is set forth at our sales/product URL: http://www.leatt-brace.com. This press release is a new product announcement and promotional material.

NOTICE: This press release may contain forward-looking statements under the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties, and actual results may differ. More information on potential factors and risks that could affect the Company is included from in the Company's public disclosures at http://www.leatt-corp.com. The Company's common stock quotes on The Pink OTC Market and said stock is a "penny stock" under SEC rules. As such, any investment in the common stock is highly risky. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates, unless applicable laws require otherwise. Neither any URL's referenced herein nor their contents are incorporated herein or made a part of this press release.

Contact Information

  • Investor Relations Contacts:
    PW RICHTER
    Richmond, Virginia, USA
    Tel: (804) 644-2182
    Fax: (804) 644-2181
    prosage@comcast.net