US Eyewear Brand Verso to Pay Omer Adam, Opticana Millions in Settlement

American eyewear brand Verso will compensate Israeli singer Omer Adam and the Opticana chain millions of shekels as part of a settlement resolving six years of mutual lawsuits over the marketing of the Verso brand in Israel. The Tel Aviv District Court judge, Gershon Gontovnik, approved the compromise agreement yesterday, which was based on an expert opinion and avoids a ruling on the parties' claims.

Under the terms, Verso will pay PAI, owned by Adam and his father, 866,000 shekels. Verso will also pay Opticana 2.9 million shekels, while receiving 2.1 million shekels from Opticana, resulting in a net payment of 800,000 shekels from Verso to Opticana.

The dispute began in late 2018 when Adam partnered with Verso for a campaign featuring his hit song "Where Are All Your Friends." Opticana later joined the collaboration, investing millions to introduce the brand in Israel. However, the partnership soured within a year, leading to legal battles in Israel and the US.

Verso had sued Opticana for 13.6 million shekels, alleging trademark infringement and commercial torts, claiming Opticana had stolen its registered trademark and reputation. In response, Adam's PAI sued Verso for 8 million shekels, alleging breach of contract and misrepresentation. Opticana also filed a counterclaim against Verso for 13.9 million shekels, asserting exclusive marketing rights, claiming defective inventory, and citing significant advertising investments.

The conflict halted Verso's marketing in Israel, prompting Opticana and Adam to launch a new eyewear brand, CATTLEYA.