L'Oreal and eBay bury the hatchet after forgery fight
PARIS (AFP) - Cosmetics giant L'Oreal and online auctioneer eBay buried the hatchet on Wednesday after more than six years of court battles over the sale of counterfeit goods, a joint statement said.
"The parties believe that cooperation, rather than litigation, is the way forward to fight against counterfeiting," L'Oreal and eBay said.
Settlement terms, "including financial terms in favour of L'Oreal", would remain confidential, the companies said.
L'Oreal, which is the world's biggest cosmetic company, has been battling eBay since 2007 in several jurisdictions, accusing the online pioneer of doing too little to stop the sale of fakes.