Ashworth Inc. Implements Aggressive Trademark, Product and Distribution Channel Security Programs.Business Editors CARLSBAD, Calif.--(BUSINESS WIRE)--May 9, 2001 Ashworth Inc. (Nasdaq:ASHW) today announced the implementation of a new Corporate Security Department. Among other responsibilities, the new department is charged with aggressive oversight of Trademark protection, branding security and product security worldwide. After investigations conducted in the U.S. and the U.K. and in conjunction with authorities, Ashworth has already recovered a significant amount of counterfeit To falsify, deceive, or defraud. A copy or imitation of something that is intended to be taken as authentic and genuine in order to deceive another. A counterfeit coin is one that may pass for a genuine coin and may include a lower denomination coin altered so that it may and diverted di·vert v. di·vert·ed, di·vert·ing, di·verts v.tr. 1. To turn aside from a course or direction: Traffic was diverted around the scene of the accident. 2. product. The Ashworth brand was one of several large named clothing brands that were affected in this case. Ashworth has identified both the source of the counterfeit and diverted products and has dealt swiftly with the unauthorized use of the Ashworth(R) trademark. Ashworth is currently receiving cooperation from selected individuals to identify other purchasers of this product, which may have included buyers supplying product to U.S. markets. In the spirit of cooperation, Ashworth will work with all companies whose brands have been unfairly and improperly affected. Ashworth is implementing a no tolerance position, globally, with any individuals or companies that infringe in·fringe v. in·fringed, in·fring·ing, in·fring·es v.tr. 1. To transgress or exceed the limits of; violate: infringe a contract; infringe a patent. 2. upon its Trademarks or products, or sell into unauthorized distribution channels. Ashworth Inc. is a Southern California-based designer of men's and women's golf-inspired lifestyle sportswear distributed domestically and internationally in golf pro shops, resorts and upscale department and specialty stores Noun 1. specialty store - a store that sells only one kind of merchandise shop, store - a mercantile establishment for the retail sale of goods or services; "he bought it at a shop on Cape Cod" . Its new Web site is available at www.Ashworthinc.com. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. related to the Company's market position, finances, operating results, marketing plans and strategies. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the timely development and acceptance of new products, the impact of competitive products and pricing, the success of the women's and corporate divisions, the preliminary nature of bookings information, the ongoing risk of excess or obsolete inventory Obsolete Inventory Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company. , potential inadequacy of booked reserves and other risks described in Ashworth, Inc.'s SEC reports, including the report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended October 31, 2000. |
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