Converse will share sales revenue from shoes bearing the colors and founding dates of black fraternities and sororities to settle a trademark infringement lawsuit filed by the Greek organizations, Converse and the groups said Friday.
The organizations will drop the lawsuit they filed in federal court in Dallas in 2003, and North Andover, Mass.-based Converse will pay the fraternities and sororities a percentage of revenue on each product sold that bears the trademarks of the organizations. Additional financial details of the multiyear licensing agreement were not disclosed.
