A lawsuit brought nearly two years ago by former Guess Inc. Chief Executive Officer Georges Marciano backfired, leaving Marciano on the receiving end of a $370 million jury verdict Monday, according to opposing counsel.
The millionaire magnate who steered the rise of Guess jeans had sued five former employees of his real estate company for embezzlement and fraud, but when those employees filed cross-complaints alleging libel and intentional infliction of emotional distress a year ago, the French designer’s case went downhill. Marciano had sold his stake in Guess and left the company in 1993.
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