LeapFrog 2002 Annual Report Download - page 101

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LEAPFROG ENTERPRISES, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except share, per share and percent data)
Certain amounts have been reclassified to conform to the presentation in the current year annual financial
statements.
24. Subsequent Events (unaudited)
In January 2003, the entire balance of notes receivable from stockholders of $2,624, and the related accrued
interest receivable of $347 and payroll tax receivable of $565, was paid to the Company by the respective
stockholder’s. The Company has no remaining loans outstanding to stockholders.
The following legal proceedings were terminated:
LeapFrog Enterprises, Inc. v. Franklin Electronic Publishers, Inc.
In February 2003, the Company entered into a settlement agreement and release of all claims with
Franklin, and the northern federal district court of California granted the joint motion by Franklin and
LeapFrog to dismiss with prejudice all of the claims and counterclaims in the lawsuit.
Publications International, Ltd. v. LeapFrog Enterprises, Inc.
In February 2003, the Company entered into a settlement agreement and release of claims with PIL. As
a result of the settlement, the Company acquired PIL’s rights to the designation LEAP FROG and LEAP
FROG design trademark, and the lawsuit against the Company in federal court in Illinois was dismissed
with prejudice.
F-32