Retail Industry
Industry: Email Alert RSS FeedMarcianos win Guess control. (end to five year legal battle between clothing makers Guess Inc., Jordache Enterprises Inc.)
Daily News Record, May, 1990 by Marlow, Michael
MARCIANOS WIN GUESS CONTROL
LOS ANGELES -- The Marciano brothers and the Nakashes have ended their bitter 5 1/2-year legal battle over control of Guess, Inc., in a settlement that gives the Marcianos 100 percent control of the company.
The deal, announced Wednesday, rescinds a July 1983 agreement that gave half of Guess to the Nakash brothers for $5 million. Under the terms of the settlement, ownership of Guess is returned to the Marcianos and the trademark for Gasoline, which was once a Guess division, was given to the Nakashes.
About a dozen related lawsuits in California State Court and other courts were dismissed, per the agreement. No other details, including any financial arrangements that might be involved, were revealed by the parties....
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