THIS JUST IN: Three years ago, Gucci brought suit against Guess for a massive trademark misappropriation scheme. Following a three-week nonjury trial, which ended on April 19th, Gucci was awarded just $4.66M in damages, just a fraction of the $120M sought. U.S. District Judge Shira Scheindlin held that Guess did infringe several of Gucci’s trademarks, and awarded the Italian company $4.66M. This value reflects the profit Guess made from the specific items bearing unauthorized Gucci trademarks. Further, Judge Scheindlin awarded Gucci a permanent injunction against Guess’ use of three of the four challenged designs at issue (likely including the infamous Gucci-replica sneakers). Gucci, however, is not entitled to damages reflecting lost sales or harm to its brand as its damages expert’s analysis was “highly speculative.”