After 30 years of successful business endeavors, deals and marketing brilliance, we’ve come to discover that entertainment mogul and entrepreneur Russell Simmons has never found himself in court in the aftermath of a lawsuit he initiated – until now.
Simmons recently accused executives at Li & Fung USA for failing to sell or promote his fashion range, American Classics. Well, how much is on the table you ask? We hear that after signing an exclusive license contract with them in 2007, things went sour quite quickly on the deal and now Russell Simmons wants $55 million for the damages.
He seems determined to win the case in order to protect his name and likeness as this is the first time he’s ever had to take legal action.
To read more, visit Singersroom.com today. In the meantime, do you think Russell’s reputation is at stake? Not too much if you ask me, but I honestly believe in keeping a good reputation squeaky clean if you’ve come as far as he has in this shady world we know as the entertainment business. What do you all think?
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