Knickerbocker Renounces Product Rights

L.L. Knickerbocker Co. terminated its letter of intent to obtain manufacturing and marketing rights to three hair-removal products of Classy Lady by Mehl of Puerto Rico Inc.

Knickerbocker retains the rights to a fourth product, a skin-care system, a spokeswoman said.

Knickerbocker said it terminated the plan because Classy Lady had not been received approval from the Food and Drug Administration for the hair removal products.

Classy Lady has returned all advances made by Knickerbocker, plus interest, Knickerbocker said.