Ruined By Lawsuits…As Plaintiff

Remember “Guess” jeans? The founder, Georges Marciano, was an American success story. When he sold his stake in the company he was worth $200 million. He lived a life of great opulence and started a real estate company. Then he started exhibiting strange behavior. Convinced that his employees were stealing from him, he started filing lawsuits against many of them.

He sued seven former employees seeking millions of dollars. He went through several law firms and racked up over $12 million in legal fees.

The employees countersued for libel and intentional infliction of emotional distress and were ultimately awarded a judgment against Marciano of $260 million. The employees are now attempting to sieze Marciano’s assets.

A lengthy article about the whole sordid affair can be found here.

My question is: Who gave this man such horrible legal advice and assisted in this harmful course of action? According to one of the people close to the matter, Marciano “surrounded himself with people who wouldn’t tell him he was being a jerk.”

Lesson for the day: Jerks don’t win at the courthouse, or anywhere else for that matter. If they do win, it’s a fleeting and hollow victory without substance or meaning. History is littered with such examples.

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