Nike Settles with Designers it Accused of Stealing Secrets

Nike Inc has settled a lawsuit against three former shoe designers it had accused of stealing its commercial secrets and taking them to German rival Adidas AG with plans to open a footwear design studio in Brooklyn.

The designers' attorney, Matt Levin, said in a statement Tuesday that the case had been resolved through a confidential settlement. Both Nike and Adidas declined to comment, but a clerk with the state court in Oregon, where the lawsuit was filed, said both sides agreed to dismiss the matter on June 4.