Mossimo announced that the California Supreme Court has denied its appeal in Cherokee vs. Mossimo. The Company had challenged the California Court of Appeal's decision affirming a superior court judgment for Cherokee Inc., relating to a finder's fee agreement between the two companies.
Edwin Lewis, Vice Chairman and President of Mossimo, Inc., stated, “While we are obviously disappointed with the Supreme Court's decision, and continue to believe the facts and law supported our position, we do find satisfaction in knowing that we exhausted all avenues of appeal in this matter. We are excited about our new initiatives and we remain committed to executing our strategic plan and further leveraging our operating platform for growth.”
