JLM Couture, Inc. - JLMC STOCK NEWS

On April 26, 2023, JLM Couture announced a favorable legal ruling in its case against Hayley Paige Gutman. The United States District Judge Laura Taylor Swain denied Gutman's motion for reconsideration, enforcing a payment of $118,806.59 for JLM's legal fees due to Gutman's willful contempt. The Court dismissed Gutman's claims of financial hardship as unfounded and noted her awareness of the fee since September 2021. Furthermore, the ruling confirmed that Gutman is still free to pursue non-competitive work, as her recent venture into the shoe industry demonstrates. JLM Couture continues to safeguard its interests amid ongoing litigation.

JLM Couture has achieved a significant legal victory as a Federal Court in Manhattan ruled in favor of the bridal house against former designer Hayley Gutman. The court established a 'clear likelihood of success' for JLM, asserting ownership of the social media accounts associated with the Hayley Paige brand, which are deemed to be products of JLM's marketing efforts. Additionally, Ms. Gutman is prohibited from being identified as a designer of competitive products for five years following her contract expiration, further protecting JLM's business interests.

The Second Circuit Court of Appeals ruled against Hayley Paige Gutman in her appeal against JLM Couture, affirming that Ms. Gutman cannot use the Designer Name in trade and breached her employment contract. This ruling aligns with previous federal District Court findings, denying her claims for additional compensation. JLM Couture, operating under the ticker JLMC, designs and distributes bridal wear, with notable collections including Allison Webb and Hayley Paige Occasions.

JLM Couture, Inc. announced that award-winning designer Francesca Avila will debut her Fall 2022 collection during New York Bridal Fashion Week from April 6-8, 2022. Avila, who previously designed the Blush collection, aims to present modern yet romantic bridal looks, inspired by her late mother. The collection will include versatile pieces with exquisite details, retailing between $3,500 and $6,000. The designer expressed excitement over her return and dedication of the collection to her mother's memory.

A federal court has ruled in favor of JLM Couture, allowing the company to retain access to its vital social media accounts, including a key Instagram account with 1.1 million followers. The court affirmed that Ms. Gutman breached her contract by using the account to promote third-party goods instead of the Hayley Paige brands. The ruling reinstates guidelines for Ms. Gutman, restricting her to only promoting the Hayley Paige brands and prohibiting any unauthorized commercial use of the accounts. JLM Couture plans to modify the injunction as necessary.

The Second Circuit Court of Appeals confirmed that JLM Couture did not breach its employment contract with Hayley Paige Gutman and is not obligated to provide additional compensation. The court ruled that Gutman resigned, violating her contract, and upheld JLM's enforcement of a noncompete clause, deeming it reasonable considering her unique role. Additionally, the court did not address the ownership of Gutman's Instagram account, sending this matter back to the District Court for proper resolution. This decision highlights JLM's rights concerning its brand and contractual agreements.