On Wednesday, Lonnie Johnson, the inventor of iconic children’s toy Super Soaker soaked Hasbro in arbitration, reportedly receiving $72.9 million worth of sales royalties from the toymaker as part of a dispute over underpaid royalties.
“In the arbitration we got everything we asked for,” Johnson’s attorney Leigh Baier told The Atlanta Journal-Constitution. “The arbitrator ruled totally in Lonnie’s favor.”
Johnson, a nuclear engineer, Tuskegee University Ph.D. recipient, and former NASA scientist, founded his company in 1989. Johnson holds more than 80 patents, with more than 20 pending, the company said, which also said sales of the Super Soaker have approached nearly $1 billion.
Source: finance.yahoo.com
Discover more from OnTheSceneNY
Subscribe to get the latest posts sent to your email.
