Wicked Cool Toys intends to defend itself, after the company and its co-president Jeremy Padawer were sued by rival toymaker Jakks Pacific on Friday.
The complaint asserts various tortious interference as well as breach of fiduciary duty, claims that are premised on the recent award to Wicked Cool Toys of a worldwide licence to the Cabbage Patch Kids line, and the concurrent termination of Jakks’ more limited licence.
Wicked Cool Toys believes these claims are without merit and intends to defend itself from what it considers are baseless allegations. As the new steward of the Cabbage Patch Kids brand, Wicked Cool Toys feels that is it unfortunate that Jakks would compete in this way.
The company says it looks forward to having its day in court, where all the issues can be fully aired, and would like to thank all of its partners and colleagues, especially OAA, for their continued support. Wicked Cool Toys says it will continue to work with the highest level of professionalism and integrity for which it has come to be known.