Iconix Wins Jury Verdict Against Hubert Guez, Sweet Sportswear, LLC, Azteca Production International, Inc. and Apparel Distribution Services, LLC

Apr 11, 2007, 01:00 ET from Iconix Brand Group, Inc.

    NEW YORK, April 11 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
 (Nasdaq:   ICON) (the "Company") announced today that the jury has returned a
 favorable verdict in the litigation entitled Unzipped Apparel, LLC. et al.
 v. Sweet Sportswear, LLC., et al. commenced by the Company and certain of
 its subsidiaries in August 2004 in the Superior Court of California, Los
 Angeles County. A description of the litigation is contained in the
 Company's 2006 Form 10-K and certain of its other SEC reports.
     The jury awarded the Company an aggregate of approximately $45 million
 in compensatory damages. The jury found for the Company on every one of the
 claims it pursued, and against the defendants on every counterclaim
 asserted. Additionally, the jury found that all of the defendants acted
 with "malice, fraud or oppression" with regard to Company's tort claims,
 and intentionally infringed the Company's federally registered BONGO(R)
 trademarks.
     Based upon the multiple findings of malice and willfulness, a punitive
 damages phase of the trial will begin shortly. There will also be a
 subsequent proceeding in which the Court will determine whether treble
 damages should be awarded for the trademark infringement claims. In
 addition, many of these claims are subject to contractual and statutory
 fee-shifting provisions, entitling the Company to recover its attorneys'
 fees and costs.
     The Company intends to vigorously pursue collection of the judgments
 against the defendants, when entered by the Court. The defendants have the
 right to appeal the judgments, but should be required to post an
 appropriate bond to secure the judgment and stay execution proceedings.
     Neil Cole, Chairman and CEO commented, "We are extremely pleased with
 the verdict and feel that justice has been served."
     Iconix Brand Group Inc. (Nasdaq:   ICON) owns, licenses and markets a
 growing portfolio of consumer brands including CANDIE'S(R), BONGO(R),
 BADGLEY MISCHKA(R), JOE BOXER(R), RAMPAGE(R), MUDD(R), LONDON FOG(R),
 MOSSIMO(R), OCEAN PACIFIC(R), DANSKIN(R) and ROCAWEAR(R). The Company
 brands touch every major segment of retail distribution from the luxury
 market to the mass market. Iconix, through its in-house advertising agency,
 advertises and markets its brands to continually increase consumer
 awareness and loyalty and licenses its brands to a network of leading
 retailers and manufacturers.
     Safe Harbor Statement under the Private Securities Litigation Reform
 Act of 1995. The statements that are not historical facts contained in this
 press release are forward looking statements that involve a number of known
 and unknown risks, uncertainties and other factors, all of which are
 difficult or impossible to predict and many of which are beyond the control
 of the Company, which may cause the actual results, performance or
 achievements of the Company to be materially different from any future
 results, performance or achievements expressed or implied by such forward
 looking statements. Such factors include, but are not limited to,
 uncertainty regarding the results of the Company's acquisition of
 additional licenses, continued market acceptance of current products and
 the ability to successfully develop and market new products particularly in
 light of rapidly changing fashion trends, the impact of supply and
 manufacturing constraints or difficulties relating to the Company's
 licensees' dependence on foreign manufacturers and suppliers, uncertainties
 relating to customer plans and commitments, the ability of licensees to
 successfully market and sell branded products, competition, uncertainties
 relating to economic conditions in the markets in which the Company
 operates, the ability to hire and retain key personnel, the ability to
 obtain capital if required, the risks of litigation and regulatory
 proceedings, the risks of uncertainty of trademark protection, the
 uncertainty of marketing and licensing acquired trademarks and other risks
 detailed in the Company's SEC filings. The words "believe," "anticipate,"
 "expect," "confident," "project," provide "guidance" and similar
 expressions identify forward-looking statements. Readers are cautioned not
 to place undue reliance on these forward looking statements, which speak
 only as of the date the statement was made.
     Contact:  David Conn
               Executive Vice President
               Iconix Brand Group
               212.730.0030
 
               Joseph Teklits
               ICR
               203.682.8258
 
 

SOURCE Iconix Brand Group, Inc.
    NEW YORK, April 11 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
 (Nasdaq:   ICON) (the "Company") announced today that the jury has returned a
 favorable verdict in the litigation entitled Unzipped Apparel, LLC. et al.
 v. Sweet Sportswear, LLC., et al. commenced by the Company and certain of
 its subsidiaries in August 2004 in the Superior Court of California, Los
 Angeles County. A description of the litigation is contained in the
 Company's 2006 Form 10-K and certain of its other SEC reports.
     The jury awarded the Company an aggregate of approximately $45 million
 in compensatory damages. The jury found for the Company on every one of the
 claims it pursued, and against the defendants on every counterclaim
 asserted. Additionally, the jury found that all of the defendants acted
 with "malice, fraud or oppression" with regard to Company's tort claims,
 and intentionally infringed the Company's federally registered BONGO(R)
 trademarks.
     Based upon the multiple findings of malice and willfulness, a punitive
 damages phase of the trial will begin shortly. There will also be a
 subsequent proceeding in which the Court will determine whether treble
 damages should be awarded for the trademark infringement claims. In
 addition, many of these claims are subject to contractual and statutory
 fee-shifting provisions, entitling the Company to recover its attorneys'
 fees and costs.
     The Company intends to vigorously pursue collection of the judgments
 against the defendants, when entered by the Court. The defendants have the
 right to appeal the judgments, but should be required to post an
 appropriate bond to secure the judgment and stay execution proceedings.
     Neil Cole, Chairman and CEO commented, "We are extremely pleased with
 the verdict and feel that justice has been served."
     Iconix Brand Group Inc. (Nasdaq:   ICON) owns, licenses and markets a
 growing portfolio of consumer brands including CANDIE'S(R), BONGO(R),
 BADGLEY MISCHKA(R), JOE BOXER(R), RAMPAGE(R), MUDD(R), LONDON FOG(R),
 MOSSIMO(R), OCEAN PACIFIC(R), DANSKIN(R) and ROCAWEAR(R). The Company
 brands touch every major segment of retail distribution from the luxury
 market to the mass market. Iconix, through its in-house advertising agency,
 advertises and markets its brands to continually increase consumer
 awareness and loyalty and licenses its brands to a network of leading
 retailers and manufacturers.
     Safe Harbor Statement under the Private Securities Litigation Reform
 Act of 1995. The statements that are not historical facts contained in this
 press release are forward looking statements that involve a number of known
 and unknown risks, uncertainties and other factors, all of which are
 difficult or impossible to predict and many of which are beyond the control
 of the Company, which may cause the actual results, performance or
 achievements of the Company to be materially different from any future
 results, performance or achievements expressed or implied by such forward
 looking statements. Such factors include, but are not limited to,
 uncertainty regarding the results of the Company's acquisition of
 additional licenses, continued market acceptance of current products and
 the ability to successfully develop and market new products particularly in
 light of rapidly changing fashion trends, the impact of supply and
 manufacturing constraints or difficulties relating to the Company's
 licensees' dependence on foreign manufacturers and suppliers, uncertainties
 relating to customer plans and commitments, the ability of licensees to
 successfully market and sell branded products, competition, uncertainties
 relating to economic conditions in the markets in which the Company
 operates, the ability to hire and retain key personnel, the ability to
 obtain capital if required, the risks of litigation and regulatory
 proceedings, the risks of uncertainty of trademark protection, the
 uncertainty of marketing and licensing acquired trademarks and other risks
 detailed in the Company's SEC filings. The words "believe," "anticipate,"
 "expect," "confident," "project," provide "guidance" and similar
 expressions identify forward-looking statements. Readers are cautioned not
 to place undue reliance on these forward looking statements, which speak
 only as of the date the statement was made.
     Contact:  David Conn
               Executive Vice President
               Iconix Brand Group
               212.730.0030
 
               Joseph Teklits
               ICR
               203.682.8258
 
 SOURCE  Iconix Brand Group, Inc.