- JAKKS Pacific, Inc., today issued a press release saying that the US Court of Appeals for the Second Circuit unanimously affirmed the decision taken by the US District Court dismissing the WWE lawsuit against the company and its officers.

The lawsuit was filed by WWE a couple of years ago after the company alleged that on the orders of Jakks’ highest ranking officers, payments were made to Stanley Shenker of Shenker & Associates, Inc., and Bell Licensing, LLC to foreign subsidiaries of Jakks during the time licensing rights were being sought, including the rights to a lucrative WWE videogame license.

Both Shenker and Bell are currently in federal prison after they admitted wrongdoing but the court thought JAKKS had nothing to do with it.

At the end of this year JAKKS will cease production of WWE action figures as the contract has now gone to toy giant Mattel.