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In Brief: Master P Strikes Back… Tarrant Fights Delisting… Finish Line CEO..

Rapper Master P answered allegations of trademark infringement that Pepe Jeans London LLC made against him with a countersuit.

• MASTER P STRIKES BACK: Percy Miller, known as the rapper Master P, has answered allegations of trademark infringement that Pepe Jeans London LLC made against him last week with a countersuit. According to papers filed on Oct. 3 in federal court in Los Angeles, Pepe is infringing on his mark because the hip-hop entrepreneur has been making use of a stylized P logo since 1989. In documents filed on Sept. 26 in federal court in Manhattan, Pepe Jeans said Miller’s logos violated its trademark. Miller’s clothing line, bearing the mark, P. Miller, is sold in Wal-Mart stores. H. Nation Inc., Miller’s commercial entity, is seeking an injunction against Pepe Jeans’ further use of the mark and unspecified damages.

• TARRANT FIGHTS DELISTING: Shares of Tarrant Apparel Group will retain their listing on the Nasdaq Global Market as the company awaits a hearing before a Nasdaq review panel. Tarrant’s shares have traded at less than $1 since Feb. 14, putting it outside of compliance with the exchange’s rules. Last month, stockholders approved a reverse stock split of between 1-for-1.5 and 1-for-4 that would decrease the number of shares outstanding and increase the price of shares proportionately. The Los Angeles-based company said it hasn’t undertaken a split because of the pending offer, initiated in April, by co-founders and majority shareholders Gerard Guez and Todd Kay to take the company private. They would acquire all publicly held shares they don’t own for 80 cents each, or about $12 million. Guez is chairman and Kay vice chairman of the company.

• FINISH LINE CEO: The Finish Line Inc. has tapped president Glenn S. Lyon to be chief executive officer, replacing Alan H. Cohen when he retires Dec. 1. Lyon has also joined the active retailer’s board. Before arriving at Finish Line in 2001 as executive vice president and chief merchandising officer, Lyon was president and ceo of Paul Harris Stores Inc., a women’s wear retailer. Chief operating officer Steven Schneider, who joined the company in 1989 as chief financial officer, will succeed Lyon as president.