Olshan Seeks $70M in Damages on Behalf of Client Signature Apparel Against Iconix Brand Group and Christopher Laurita
Law360 reported that Olshan client Signature Apparel filed a motion for damages against Signature’s former principal Real Housewives of New Jersey’s Chris Laurita, Iconix Brand Group and related companies and stated that Signature was owed for the value of the rights to the Rocawear junior sportswear line, as well as the termination of Signature’s exclusive rights, and the profit from the sale of Signature’s assets, which added up to approximately $70 million. In August 2017, the Court specifically found and entered judgment against Iconix finding that it had committed fraud, aided and abetted Christopher Laurita's breach of fiduciary duty to Signature, made misrepresentations, and tortiously interfered with Signature's property right. Litigation partner Kyle Bisceglie was quoted as saying "It's rare that you see a publicly traded company to be found liable for fraud…It's even rarer to see them continue to fight after the case has been decided, as opposed to trying to resolve matters some other way." In addition to Kyle, the Olshan team includes bankruptcy attorneys Michael Fox and Jonathan Koevary.