Lawsuit by Golan. He must think there's value in those deals:
(COMTEX) B: Barry K. Rothman Announces Filing of Lawsuit by Menahem G
B: Barry K. Rothman Announces Filing of Lawsuit by Menahem Golan Against 1st
Miracle and Anthony J. Cataldo
LOS ANGELES, Aug 25, 1999 (BUSINESS WIRE) -- On Aug. 18, 1999, Belfair
International Ltd. and Menahem Golan, co-founder of Cannon Films, filed
a complaint in the Los Angeles Superior Court, case number BC 215372
against the publicly traded company 1st Miracle Group Inc., (OTC
BB:MVEE) (OTC BB:EINI), its wholly owned subsidiary, Magic
Entertainment Inc., its Chief Executive Officer Anthony J. Cataldo, and
its counsel Pinchas Perry, whereby Belfair International and Golan are
asserting claims for no less than $7 million.
The dispute involves claims arising out of 1st Miracle Group and Magic
Entertainment's allegedly wrongful termination of Belfair International
and Golan's employment contract whereby Golan was to act as Magic
Entertainment's co-chairman and co-chief executive officer for a period
of five years. The agreement provides that Magic could only terminate
the agreement for cause, whereby cause is limited to misappropriation
of Magic's funds byGolan.
According to the complaint, 1st Miracle and Magic also failed to pay
Belfair International and Golan Executive Producer and Producer
compensation on three films "Speedway Junkie," "Grizzly Mountain" and
"After Sex."
Additionally, the dispute involves claims of fraudulent conduct in
connection with 1st Miracle Group and Magic Entertainment's allegedly
fraudulent inducement of Belfair International and Golan to sign a
subsequent three year consulting agreement with 1st Miracle which
agreement was also wrongfully terminated by 1st Miracle.
Belfair International and Golan are asserting causes of action against
1st Miracle Group and Magic Entertainment for Breach of Contract (two
counts), Wrongful Termination, Breach of the Implied Covenant of Good
Faith and Fair Dealing (two counts), Rescission of Contract, Fraud,
Negligent Misrepresentation, Intentional Interference with Economic
Advantage, Defamation, Unjust Enrichment, Intentional Infliction of
Emotional Distress, Negligent Infliction of Emotional Distress,
Declaratory Relief, Accounting, and for a Permanent Injunction
enjoining and restraining 1st Miracle and Magic Entertainment from
producing any television or motion picture which does not afford
Producer or Executive Producer credit to Belfair International and
Golan.
Furthermore, the dispute alleges claims against 1st Miracle's CEO,
Cataldo, arising out of Cataldo's allegedly wrongful interference with
Belfair International and Golan's employment contract and his allegedly
fraudulent inducement of Belfair International and Golan to sign the
three year Consulting Agreement.
Also, the dispute involves Cataldo's allegedly wrongful interference
with a contract entered into between 1st Miracle Group and Millennium
Films for the production, financing and distribution of a motion
picture based upon the screenplay "Alicia's Book," whereby Golan was to
co-produce the motion picture "Alicia's Book" for a producer's fee of
$250,000.
The complaint asserts causes of action against Cataldo for Fraud,
Intentional Interference with Contractual Relations, Intentional
Interference with Economic Advantage, Negligent Misrepresentation,
Declaratory Relief, Negligent Infliction of Emotional Distress,
Intentional Infliction of Emotional Distress, Unjust Enrichment, and
Defamation.
The dispute also asserts claims against 1st Miracle Group's counsel,
Perry, arising out of an earlier partnership between Golan and Perry
which acquired the rights to the screenplay "Alicia's Book" and Perry's
alleged interference with the 1st Miracle/Millennium contract providing
for Golan and Perry to co-produce the motion picture "Alicia's Book"
for a producer's fee of $250,000 each.
The Complaint asserts causes of action against Perry for Intentional
Interference with Economic Advantage, Intentional Interference with
Contractual Relations, Breach of Fiduciary Duty, Negligent Infliction
of Emotional Distress, Intentional Infliction of Emotional Distress,
Unjust Enrichment, Defamation and for a Permanent Injuction enjoining
Perry from producing the motion picture "Alicia's Book." Belfair
International and Golan have filed an ancillary lawsuit in the Los
Angeles Superior Court against Millennium Films seeking to enjoin the
production of the motion picture "Alicia's Book."
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: Law Offices of Barry K. Rothman, 310/557-0062
WEB PAGE: businesswire.com
GEOGRAPHY: CALIFORNIA
INDUSTRY CODE: ENTERTAINMENT
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