Monday, September 26, 2022

Kimora Lee Responds to Russell Simmons Lawsuit Over Celsius Energy Drink Stock

Russell Simmons - Kimora Lee Simmons (Getty)
Russell Simmons – Kimora Lee Simmons (Getty)

*Kimora Lee has responded to her ex-husband Russell Simmons’ lawsuit against her and her husband Tim Leissner.

Simmons is suing the couple for allegedly using some of Simmons’ shares of his Celsius Energy Drink company to pay for Leissner’s attorney fees in his fraud case. Get caught up on the details about that here.

“Kimora and her children are shocked by the extortive harassment coming from her ex-husband, Russell Simmons, who has decided to sue her for shares and dividends of Celsius stock in which Kimora and Tim Leissner invested millions of dollars,” Kimora’s legal team tells PEOPLE in a statement. “This is an ill-advised attempt by Russell to use the legal system to access funds he is in no way entitled to, and which his own legal team confirms Russell did not pay for.”

READ MORE: Russell Simmons Suing Ex-Wife Kimora Lee Over Celsius Energy Drink Stock

Tim Leissner-Kimora Lee Simmons
Kimora Lee Simmons & Tim Leissner

“Russell’s continued aggressive behavior not only blatantly distorts the facts, but is simply a desperate PR ploy ignoring the years of mental and emotional anguish, gaslighting, and ongoing harassment he has inflicted on Kimora,” the statement continued.

“We will confront his baseless claims that he is warranted Celsius stock dividends despite his self-admitted zero contribution. This extortion attempt is especially egregious given that Russell remains contractually in debt to Kimora for millions of dollars in unpaid business loans,” the statement ended. “Our team is actively working to put a firm end to his harassment, which continues despite Russell having fled the country – he will face his own reckoning in the US court.”

In Simmons’ lawsuit, per The Blast, he claims Kimora and her husband invested tens of millions of dollars in the Celsius energy drink company. He believes Kimora and Tim “conspired with each other, aided and abetted each other and together engaged in fraud by causing an unlawful conversion and fraudulent transfer” of the Celsius shares without Russell’s consent or knowledge. Kimora and her husband allegedly transferred Simmons’ shares to themselves. According to the court docs, Russell’s new accountants discovered a “substantial unexplained change” in his interests in Celsius.

Per PEOPLE, “Simmons requested that Kimora and Leissner “reaffirm” his 50% of Celsius shares, pay money and punitive damages, along with legal fees,” the outlet writes.

Ny MaGee
Ny MaGee is an entertainment reporter with over 15 years of experience working in the film industry in areas including production and post-production, marketing, distribution, and acquisitions. She has worked for legendary film producer Roger Corman, Quentin Tarantino's production team at Miramax, the late Larry Flynt, MTV/ VH1, Hallmark Channel, Paramount, Jim Henson Co., Parade Magazine, and various LA-based companies representing above-the-line talent.




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