Jakks Pacific Sues Rival Mattel
Malibu-based Jakks Pacific Inc. has sued rival Mattel Inc. in Los Angeles County Superior Court, accusing the toy maker of breaching its contract with X Games star Travis Pastrana.
According to the suit, filed Monday, El Segundo-based Mattel signed 20-year-old motocross star Pastrana, known for his daring motorcycle back flips and 360-degree turns, to promote a line of motocross toys in 2001, just two years after Jakks had allegedly inked an exclusive contract with Pastrana for his name and likeness.
Pastrana, an X Games gold medalist who was injured and unseated this year by adversary Nate Adams, has promoted Jakks’ Road Champs toys and MPX line of extreme sports action figures and bikes.
Jakks is seeking monetary damages of more than $5 million from Mattel for the alleged contract breach, which it claims damped sales of Jakks products. The suit doesn’t seek to prevent Mattel from doing business with Pastrana.
A Mattel spokeswoman said the company no longer had an agreement with Pastrana. A similar suit filed by Jakks Pacific in New York was dismissed, she said.
A representative of Pastrana’s marketing agency, La Familie, declined to comment on the suit. Jakks executives couldn’t be reached for comment.
Shares of Jakks Pacific rose 20 cents Wednesday to $18.92 on Nasdaq, while Mattel rose 9 cents to $18.84 on the New York Stock Exchange.
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