
Cosmetics giant L'Oreal and online auctioneer eBay buried the hatchet on Wednesday after more than six years of court battles over the sale of counterfeit goods, a joint statement said. "The parties believe that cooperation, rather than litigation, is the wayforward to fight against counterfeiting," L'Oreal and eBay said. Settlement terms, "including financial terms in favour of L'Oreal", would remain confidential, the companies said. L'Oreal, which is the world's biggest cosmetic company, has been battling eBay since 2007 in several jurisdictions, accusing the online pioneer of doing too little to stop the sale of fakes. In the statement, L'Oreal said it "acknowledges eBay's commitment in the fight against intellectual property infringement". The deal comes more than two years after the European Court of Justice decided that eBay should be held responsible if it did not step up its anti-counterfeit measures. In 2007, L'Oreal pursued eBay in Belgium Germany, France, Britain and Spain after seeing a growing stock of fake perfumes and cosmetics items on the site.
GMT 09:47 2018 Tuesday ,23 January
SAP unveils big push into French tech start-upsGMT 05:07 2018 Tuesday ,23 January
Noble Group shares surge 37 percent on buyout talksGMT 19:07 2018 Monday ,22 January
BAKS spent Dh225m on charity projects in 2017GMT 22:52 2018 Sunday ,21 January
French firm "recalls baby milk product"GMT 22:27 2018 Sunday ,21 January
US company plans funds that double bitcoin price movesGMT 21:23 2018 Sunday ,21 January
Pence starts Mideast tour in Egypt amid Arab angerGMT 08:54 2018 Saturday ,20 January
Million-euro bill for firm behind Paris bike-share chaosGMT 10:47 2018 Friday ,19 January
German chemical giant BASF sees 'significant' profit leap

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor