My First Lawsuit Ever.

Today, I am filing my first lawsuit ever.  Below is the press release:

RUSSELL SIMMON FILES FRAUD AND BREACH OF CONTRACT COMPLAINT AGAINST LI & FUNG, USA

Suit Seeks Court Ruling to Require Li & Fung USA to Pay Damages in Excess of $55 Million

New York, New York, September 9, 2010 - Russell Simmons today announced that his companies have filed a lawsuit in the Supreme Court of the State of New York against The Millwork Trading Co. LTD (Li & Fung, USA) for fraud and breach of contract in connection to the 'American Classics By Russell Simmons' and 'Russell Simmons Argyleculture' trademarks. The suit seeks compensatory and punitive damages in excess of $55 million.

In connection with the filing, Simmons released the following statement:

'Almost 20 years ago I pioneered a space that enabled an entire generation of minority designers and entrepreneurs to redefine the landscape of fashion. Similarly today, there is an enormous void in the market to fulfill the aspirations of the Urban Graduate, who has grown out of this urban fashion trend but isn't represented by the mainstream brands. I set up Simmons Design Group, and its flagship brand, Argyleculture, to pioneer this vast open space.

In 2007, Li & Fung USA, a division of the Hong Kong-based apparel-sourcing powerhouse, which purported to be the market leader in the development of proprietary brands, approached me about obtaining the exclusive license for American Classics, my smart budget mass-market apparel brand. At that time we made it clear that Simmons Design Group's main focus was Argyleculture, and that the two brands needed to work synergistically and belonged together. They expressed a false enthusiasm for my flagship brand in order to induce me into licensing them my mass-market brand.