According to the AJC.com, the Atlanta-based company behind the Super Soaker water gun and Nerf toy guns has been awarded nearly $73 million in royalties from toymaker Hasbro Inc., according to the law firm King & Spalding.
Johnson Research and Development Co. along with founder Lonnie Johnson, have been in a royalty dispute with Hasbro since February. It was then that the company filed a claim against the giant toy company; and according to the law firm, which along with the A. Leigh Baier P.C. law firm represented Johnson, Hasbro underpaid royalties for the Nerf line toys from 2007 to 2012.
“In the arbitration we got everything we asked for,” said Atlanta attorney Leigh Baier. “The arbitrator ruled totally in Lonnie’s favor.” The attorney also said Johnson “is very pleased” with the outcome.
On, we are sure he is!
Read more at AJC.com about the details of this incredible win.