Cherokee Inc. Files Claim Against Mossimo Inc.Business Editors Cherokee Inc. (Nasdaq: CHKE), a leading global licensor of brand name apparel, footwear Footwear consists of garments worn on the feet. It is worn for a variety of reasons, including protection against the environment, hygiene and adornment. Usually, socks and other hosiery are worn between the feet and the footwear, except for sandals and flip flops (thongs). and accessories, announced that it has demanded arbitration against Mossimo Inc. (Nasdaq: MOSS) on the grounds of Mossimo Inc.'s refusal to pay sums due and owing due and owing adj. (See: due). under the Finder's Agreement between Cherokee Inc. and Mossimo Inc. A representative of Mossimo Inc. informed the Company that first quarter fees earned by Cherokee Inc. under the Finder's Agreement would not be paid pending the outcome of an arbitration case set for the middle of October. Statements included within this news release that are not historical in nature constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. for the purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provided by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that this news release contains certain such forward-looking statements that involve substantial risks and uncertainties. When used, the words "anticipate", "believe", "estimate", "expect", "objective" and similar expressions as they relate to the Company or its management are intended to identify such forward-looking statements. The forward-looking statements involve known and unknown risks, uncertainties and other factors that 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. The Company is subject to certain risks and uncertainties, which include, but are not limited to, restrictions or distributions by subsidiaries to the Company, uncertainty regarding acceptance and sales of the Cherokee brand, competition, dependence on a single licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. for most of the Company's revenues, dependence on intellectual property rights and others found in the Company's quarterly or annual reports filed with the Securities and Exchange Commission and other periodic filings. |
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