LeMond and Trek bicycles settle two-year lawsuit
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Trek Bicycle Corp. and three-time Tour de France winner Greg LeMond have settled their nearly two-year court battle.
Trek general counsel Robert Burns tells the Wisconsin State Journal that the deal includes two $100,000 payments by Trek to 1in6.org, a charity with which LeMond is involved.
Also, Burns says Monday that a licensing deal that began in 1995 was terminated on Jan. 30, so LeMond now has the rights to the LeMond bicycle brand.
Trek stopped making LeMond bikes in April 2008, when the Waterloo bicycle manufacturer sued in federal court to end the collaboration.
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In a statement, LeMond says he's pleased the issue has been resolved so he can move forward.
LeMond complained Trek didn't promote his brand. Trek claimed that LeMond's criticism of Lance Armstrong damaged the company.
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Trek Bicycles: http://www.trekbikes.com/
Greg LeMond: link: http://www.greglemond.com/
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Information from: Wisconsin State Journal
(Copyright 2010 by The Associated Press. All Rights Reserved.)
