Nike Inc (NYSE:NKE) filed lawsuits against New Balance and Sketchers on Monday, accusing the companies of infringing on its patents.
The suits claim that various New Balance and Sketchers shoes make use of Nike’s patented "Flyknit" technology in the upper portions of athletic sneakers.
Nike claims on its website that its Flyknit tech "uses high-strength fibers to create lightweight uppers with targeted areas of support, stretch and breathability.”
The lawsuits say it allows the company to produce “high-performance uppers” with fewer materials and less waste.
Nike previously sued Addidas, Puma and Lulelemon for infringing on its Flyknit patents. Adidas and Puma each settled, while the suit against Lululemon is ongoing.
Shares of Nike climbed 0.2% higher Monday to $107.25.
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