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One of the more bizarre cases of corporate espionage and theft of intellectual property has come to an end, with trading card manufacturer Upper Deck settling a lawsuit filed against it by Konami, admitting to counterfeiting Yu-Gi-Oh! cards.
Konami, which owns the rights to the Yu-Gi-Oh! brand, sued Upper Deck last year, accusing the company of illicitly manufacturing and distributing over 600,000 trading cards. Upper Deck executives, including the company's CEO, invoked their 5th Amendment right against self-incrimination in court, and Konami was seeking damages of between $50 million and $150 million.
Unusually, the settlement included an admission of wrongdoing by Upper Deck, as well as an undisclosed payment.
According to The New York Post, "Upper Deck makes most of its money from trading cards, and there has been widespread speculation that this case could severely hurt its financial health. Some believe the company is on the brink of bankruptcy."
However, the decision to settle the lawsuit is not indicative of a company on the brink of bankruptcy -- and neither is the company's public support of Tiger Woods. Jettisoning the contract might have been a way to cut costs.
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