Australia's Lifestyle hits 4-week high on resolving trademark dispute

Stockland

04/07/2024 02:20

** Shares of Lifestyle Communities Ltd  LIC.AX  rise as much
as 2.1% to A$12.810, their highest since June 6
    ** The real estate rental firm says it has resolved legal
proceedings with Stockland  SGP.AX  in relation to use of the
phrases "Lifestyle Communities", "Lifestyle Community" and other
similar phrases and has discontinued its proceedings
    ** Co also discontinued its claim in relation to Lifestyle
Communities' registered trademarks
    ** "Parties have agreed to an appropriate arrangement that
recognises the need for suppliers to offer to consumers products
that are clearly described and easily understood," Lifestyle
says 
    ** LIC posts its biggest intraday gain since June 25
    ** Stock has fallen 30.5% this year as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))