Red Granite to Settle with the Wolf of Wall Street

We cover a lot of disputes on this blog and most end up with a decision one way or the other. But this one involves the settlement of a $300 million fraud suit initiated by Jordan Belfort (aka The Wolf of Wall Street) alleging that Red Granite (producer of the film) was too nervous to further monetize his story rights because of its involvement in an international crime scandal. Belfort also says he never would have sold those rights if he knew the film was funded with “dirty money.” 

In a March 17 motion to compel arbitration, Red Granite attorney Matthew L. Schwartz opened by describing Belfort as “a man famous equally (and only) for deceit and inebriation” before noting that the Oscar-nominated film made more than $392 million at the worldwide box office and made Belfort famous. On top of that, Schwartz argues, Red Granite paid him more than $1 million for the rights and was under no obligation to actually produce anything based on his story. 

On April 6, Red Granite filed a notice that it was withdrawing its motion as moot because Belfort agreed to drop his lawsuit and take his claims to arbitration instead. The court on Monday issued an order that the matter would be sent to binding arbitration and the complaint would be dismissed without prejudice.

So even “the Wolf” can be persuaded to settle. Disputes like this one are EVERYWHERE. And when those horrible things including landlord/tenant matters, contract issues, nuisance ADA claims, unlawful tenant matters and even collections threaten YOU and YOUR business, call in the good guy business litigator Dean Sperling who will resolve YOUR matter with YOUR best interests in mind! 

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