In June of last year, the Los Angeles Superior Court ruled that the finder's agreement between Cherokee Inc. and Mossimo Inc. was valid, ruling that Mossimo must pay Cherokee 15% of all monies received by MOSS from Target Stores pursuant to Mossimo's licensing agreement with the discount chain. The judgment amount exceeds $3 million and includes interest on monies withheld and Cherokee's full attorney's costs.

The court in January denied Mossimo’s appeal. This week Mossimo decided to try again, and has asked the Supreme Court of the State of California to review the unanimous decision of the California Court of Appeal.
Meanwhile, that interest clock just keeps ticking.


>>> There has been no indication by Mossimo that they have been setting aside funds for any pending payout…