It looks like the lawsuit between WWE and collectibles company Panini could be coming to a close soon after they sued each other by alleging that their licensing contract was breached.
The lawsuit comes after they signed a four-year agreement in March 2022, allowing Panini to produce WWE-themed trading cards and stickers in exchange for royalty payments to WWE.
Panini alleged that WWE wrongly sought to end the deal and demanded $5.625 million in remaining royalty payments while WWE filed its own complaint, noting it terminated the contract for cause because Panini allegedly breached the licensing deal. The company also alleged in the filing Panini was infringing on WWE’s intellectual property rights by continuing to sell WWE products as their website was still selling cards for Bianca Belair, Dominik Mysterio, Roman Reigns, Cody Rhodes, and Seth Rollins.
According to court documents obtained by Paul Lesko, a letter to the court was sent indicating the lawsuit is close to being wrapped up as it noted, “discussions between the parties and their counsel have resulted in an agreement in principle. The parties are in the process of memorializing that agreement in a signed writing.”
Potential BIG update in the Panini/WWE lawsuit.
In a letter to the court, the parties note that "discussions between the parties and their counsel have resulted in an agreement in principle. The parties are in the process of memorializing that agreement in a signed writing." pic.twitter.com/4is99RyFdQ
— Paul Lesko (@Paul_Lesko) November 15, 2023
