“This IS rocket science suckers!”
Johnson Research and Development Co. and founder Lonnie Johnson, creator of the Super Soaker water gun and Nerf toy guns, has been awarded millions in royalties from the giant toy company Hasbro Inc.
According to his lawyers, Johnson has been embroiled in a royalty dispute with Hasbro since February, when he filed a claim against them. The A. Leigh Baier P.C. law firm representing Johnson says that Hasbro underpaid royalties for the Nerf line toys from 2007 to 2012.
And a judge agreed with him. To the tune of $72.9M.
“In the arbitration we got everything we asked for,” said Atlanta attorney Leigh Baier. “The arbitrator ruled totally in Lonnie’s favor.”
The attorney also said Johnson “is very pleased” with the outcome. Uhhh…yeah!
Mr. Johnson founded his company in 1989, the same year he first licensed the Super Soaker, which generated more than $200 million in retail sales two years later. The toy was licensed to Larami Corp., which was later purchased by Hasbro.
The Super Soaker is just one of Johnson’s major achievements. He’s a nuclear engineer who received his Ph.D from Tuskegee University, and is a former NASA scientist, who just so happened to have also helped design the Cassini robot probe for NASA which flew over 700 million miles to my home planet, Saturn – thank you very much!
I’m almost certain Lonnie Johnson will be donating some of that money to Tuskegee so they can produce entire armies of Lonnie Johnsons. Big up to historically black colleges and universities (HBCUs) whose campuses are in jeopardy due to lack of funding.
Johnson holds more than 80 patents, with more than 20 pending. Who says intelligence isn’t HOT! Hose me down Big Lonnie!