If you recall back in 2010, Anthony Labrosciano, the person designated by the court to settle the company's affairs, filed a lawsuit against Chris and Jacqueline Laurita; including Chris' brother and sister-in-law Joseph and Adeline Laurita; and another brother Anthony Laurita, for allegedly using Signature Apparel bank accounts to pay for private jets, lavish vacations and expensive cars.
Joseph and Adeline Laurita settled their portion of the case in 2014 for $1 million, but Chris and Jacqueline as well as Anthony Laurita remained in litigation over the matter.
NJ.com reports the following: "U.S. Bankruptcy Court Judge Robert E. Grossman for the Southern District of New York ruled on Thursday that Chris Laurita and management company Iconix, a subsidiary of Studio IP, were liable for fraud, negligent misrepresentation and tortious interference with contractual relations for diverting some of Signature Apparel's assets. Laurita was also found liable for breach of his fiduciary duty, and Iconix was found liable for aiding and abetting Laurita's fiduciary breach.
Grossman also found Studio IP liable for breach of contract, and New Star -- another Chris Laurita compay -- was liable for unjust enrichment of $1.8 million.
A hearing will now be set to determine the remainder of the damages."
What are your thoughts? Sound off in the comment section below!
Photo Credit: Bravo
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