Fashion mag’s founders lose case to have sale dissolved

Marvin Scott Jarrett and wife, Jaclynn, co-founders of cutting edge fashion title Nylon, have lost their court case to have the 2014 sale to financial backers Marc Luzzatto’s Diversis Capital and Backbone Capital dissolved.

Los Angeles Judge Frederick Shaller rejected all the motions and granted a summary judgment in favor of the defendants.

“There is no triable issue of material fact as to any of the issues for which moving parties have sought summary adjudication,” Shaller ruled.

The Jarretts back in 2005 had sold a majority interest in the magazine to Nylon Holdings, a company founded by Donald Hellinger, who subsequently sold to a group including Diversis Capital and Backbone.

When Diversis failed to renew the Jarretts’ contract, the pair howled and claimed as part of the lawsuit that they had been defamed when the new owners announced that they were no longer involved running the magazine.

Judge Shaller ruled that since it “was true” that the Jarrett’s employment contract was not renewed, they had no grounds to claim defamation even if they objected to the terms of their ouster.

Michael Littman, a lawyer who has represented the Jarretts, said they plan to appeal. The lawyer who represented them in the California court case, John Belcher, did not return a call seeking comment.

“We had always believed that we would prevail, and we’re only disappointed that it took so much time, distraction and money to arrive at the result,” said Marc Luzzato, chairman of Diversis. “While we certainly believe the claims had no merit in the first place, we do not bear the Jarretts any ill will and we wish them every success in their future endeavors.”