Here's what's happening around the web this morning:

Annie Leibovitz Sued by Firm in Charge of Previous Debt
Annie, are you okay? The fame photographer is wrestling more financial woes as Brunswick Capital Partners, the firm who helped Leibovitz find investors to rescue her from last year's debt, is suing for $800,000 in unpaid fees.

Chinatown Counterfeit Triangle Must Pay Up
$800,000 must be the magic number as New York City officials have announced that a settlement has been reached in the notorious Chinatown counterfeit case. Who knew the block owner was raking in that much for peddling fake Louis Vuitton and Gucci?

Website Allows Masses to Fund Young Labels for $50
Fashion Stake, a new website launching this fall and created by Harvard Business School student Vivian Weng, seeks to secure funding for young labels by allowing anyone to buy $50 stake in the company of their choice. We would like to thank Harvard and Weng for their contribution to the fashion industry.

Joan Jett is 'Dressed to Kilt'
The 51-year-old rocker-actress strutted down the runway of Sean Connery's annual fashion show last night at M2 Ultralounge donning a mohawk feather hat and bare stomach. Jett literally kilt it!

Lady Gaga Opens Up on Changing Lives
Wearing outlandish fashion and performing outrageous sets aren't the only things on Lady Gaga's mind. The "Paparazzi" star graces the cover of Cosmopolitian UK's May Issue and opens up bullies, fame, and her identity.