Nos. 98-7642, 98-7644, 98-7726 and 98-7728.

158 F.3d 631 (1998)

GUCCI AMERICA, INCORPORATED, GUESS?, INC., Plaintiffs-Appellants-Cross-Appellees, v. GOLD CENTER JEWELRY, Gold Fortune Jewelry, Empire Jewelry, Gold "N" Ice, Gold Spot Jewelry, Golden Touch Bronx Corp., Manny's Joyeria Jewelry, Oro-uno Jewelry, Inc., Senobar Jewelry, John Does 1-8, Defendants, Home Boy 2000, Defendant-Appellee, Big Time Jewelry, Defendant-Appellee-Cross-Appellant.

United States Court of Appeals, Second Circuit.

Decided September 30, 1998.

Attorney(s) appearing for the Case

Milton Springut, Kalow, Springut & Bressler, New York City (Robert Tilewick, on the brief), for Appellants.

Bruce H. Lederman, Lederman Abrahams Lederman and Zarett, LLP, Massapequa, NY, for Appellee Home Boy 2000.

Noel W. Hauser, Noel Hauser and Associates, New York City, for Appellee Big Time Jewelry.

Before: CABRANES and REAVLEY, Circuit Judges, and COVELLO, District Judge.

COVELLO, District Judge.

This is an appeal from a decision of the United States District Court for the Southern District of New York, (Lewis A. Kaplan, Judge), vacating and reducing the monetary portions of default judgments previously entered against the appellants, Gucci America, Inc. ("Gucci") and Guess?, Inc. ("Guess"). The appellants filed this appeal, arguing that the district court erred in reducing the amount of the original default judgments. The issue...

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