Blank Rome Wins Significant Verdict for Iconix Brand Group
April 18 2007 - 12:34PM
Business Wire
Blank Rome LLP represented Iconix Brand Group, Inc. (Nasdaq:ICON),
formerly known as Candie�s, Inc., and its subsidiaries in a
successful trial against Hubert Guez, Sweet Sportswear, LLC, Azteca
Production International, Inc. and Apparel Distribution Services,
LLC. After nearly three months of trial, the jury awarded Iconix
Brand Group approximately $45 million in compensatory damages and
$5 million in punitive damages, as a result of numerous
successfully argued actions against the defendants, including
breach of contract, breach of fiduciary duty, trademark
infringement and others. The case was tried in the Superior Court
of California, Los Angeles County. The jury found in favor of
Iconix Brand Group on every claim it pursued, and against the
defendants on every counterclaim asserted. Additionally, the jury
found that all of the defendants acted with "malice, fraud or
oppression" with regard to Iconix Brand Group�s tort claims, and
intentionally infringed the Company's federally registered BONGO�
trademarks. Based upon the multiple findings of malice and
willfulness, the jury awarded the additional $5 million in punitive
damages. There will be a subsequent proceeding in which the Court
will determine whether treble damages should be awarded for the
trademark infringement claims, as well as a fee petition. �We are
thrilled with the result for our client Iconix Brand Group,� noted
James T. Smith, Partner, Blank Rome LLP. �The jury recognized the
strength of the more than fifteen arguments we presented on behalf
of our client, rejecting any counterclaims that were filed, and
awarded our client substantially.� Blank Rome attorneys represented
Iconix Brand Group, Inc. throughout the trial, including the
punitive damages phase. Led by James T. Smith, the trial team
included Brian S. Paszamant and Judd A. Serotta. Assisting the
trial team were Rebecca D. Ward, Mary Ann Mullaney, Daniel J.
Brown, Jason W. Norris, Scott E. Coburn and Lynette M. Santiago.
Iconix Senior Vice President, Business Affairs and Licensing,
Deborah Sorell Stehr stated �The Blank Rome trial team, led by Jim
Smith, did a great job on an incredibly complicated and high-stakes
case; we are extremely pleased with the outcome.� About Blank Rome
LLP Blank Rome LLP is one of America�s largest law firms. With more
than 500 attorneys serving clients across the globe, Blank Rome is
an international law firm representing businesses and organizations
ranging from Fortune 500 companies to start-up entities. Blank Rome
helps its clients in all aspects of their businesses. The Firm�s
practices cover areas including business tax; commercial and
corporate litigation; employment benefits and labor; financial
services; bankruptcy and financial restructuring; government
relations; health law; intellectual property; maritime,
international trade and procurement; matrimonial; privately held
and emerging companies; product liability; public companies and
capital formation; public finance; real estate; trusts and estates;
and white collar, internal and government investigations. Blank
Rome also represents pro bono clients in a wide variety of cases
and matters. More information about the firm is available at
www.blankrome.com. About Iconix Brand Group, Inc. Iconix Brand
Group Inc. (ICON - news) owns, licenses and markets a growing
portfolio of consumer brands including CANDIE'S(R), BONGO(R),
BADGLEY MISCHKA(R), JOE BOXER(R), RAMPAGE(R), MUDD(R), LONDON
FOG(R), MOSSIMO(R), OCEAN PACIFIC(R), DANSKIN(R) and ROCAWEAR(R).
The Company brands touch every major segment of retail distribution
from the luxury market to the mass market. Iconix, through its
in-house advertising agency, advertises and markets its brands to
continually increase consumer awareness and loyalty and licenses
its brands to a network of leading retailers and manufacturers.
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