WWE and Panini have settled a legal dispute regarding the trading card partnership they entered into in 2021.
The case was dismissed "without prejudice" which presents the option that it could be refiled at a later time. However, if that happens within 30 days, it may be denied.
WWE terminated its agreement with Panini this past August, citing a breach of contract. Panini then countersued WWE, stating the contract was terminated "with no warning whatsoever."
This followed WWE announcing Fanatics would eventually become the exclusive producer of their trading cards beginning "when WWE’s existing trading cards rights expire over the next few years."
Earlier Wednesday, WWE and Panini notified the court that they have reached a settlement in principle and were in the process of putting it into writing.
The documents read:
Pursuant to the Court's Order, the parties certify that they have conferred live and in real time to discuss a potential resolution. Specifically, on October 3, 2023 Nick Khan (CEO, WWE), Mark Warsop (CEO, Panini America) and Elisabetta Mussini (Group Licensing Director, Panini S.p.A.) conferred by Zoom for approximately 30 minutes and on November 14 the same parties plus their counsel conferred by Zoom for approximately 30 minutes.
In addition, the parties exchanged settlement proposals and counterproposals on October 3, 2023, October 17, 2023, November 8, 2023, November 9, 2023, and November 13, 2023. Counsel for the parties were speaking regularly by phone throughout this period in connection with these proposals.
The discussions between the parties and their counsel have resulted in an agreement in principle. The parties are in the process of memorializing that agreement in a signed writing.