by Alyssa Oursler | September 25, 2012 10:44 am
An optimistic holiday hiring outlook from Toys R Us — reflecting the company’s overall optimism for the coming months — was tempered a bit today thanks to a lawsuit over its recently debuted tablet.
The company’s product — called the Tabeo — is being sued by the maker of the Nabi tablet, who claims Toys R Us stole trade secrets and other confidential information in order to roll out its own product, Reuters reports.
The Nabi-maker is not only seeking unspecified monetary damages, but is also attempting to stop the world’s largest toy retailer from selling Tabeo ahead of the all-important holiday season.
Toys R Us announced the tablet earlier this month and planned to make the product available near the end of October. The gadget was also put on the company’s “hot toy” list.
Depending on how things shake out, the controversy could mean that Toys R Us could actually be on the sidelines for this season’s tablet wars, in which Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) Amazon (NASDAQ:AMZN) and Google (NASDAQ:GOOG) are all taking part.
The toy store is owned by Kohlberg Kravis Roberts (NYSE:KKR), Bain Capital and Vornado Realty Trust (NYSE:VNO).
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.
Source URL: http://investorplace.com/2012/09/toys-r-us-sued-over-its-new-kids-tablet/
Short URL: http://investorplace.com/?p=236085
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.