Barry K. Rothman Announces Filing of Lawsuit by Menahem Golan Against 1st Miracle and Anthony J. Cataldo.LOS ANGELES--(BUSINESS WIRE)--Aug. 25, 1999-- 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 publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. 1st Miracle Group Inc., (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:MVEE MVEE Military Vehicles Engineering Establishment (United Kingdom) ) (OTC BB:EINI), its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , 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 misappropriation n. the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a dead person's estate, or by any of Magic's funds by Golan. 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 implied covenant of good faith and fair dealing n. a general assumption of the law of contracts, that people will act in good faith and deal fairly without breaking their word, using shifty means to avoid obligations, or denying what the other party obviously (two counts), Rescission of Contract, Fraud, Negligent Misrepresentation, Intentional Interference with Economic Advantage, Defamation, Unjust Enrichment, Intentional Infliction of Emotional Distress The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Negligent Infliction of Emotional Distress The tort of negligent infliction of emotional distress (NIED) is a controversial legal theory and is not accepted in many United States jurisdictions. The underlying concept is that one has a legal duty to use reasonable care to avoid causing emotional distress to another , 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , 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 contractual relations is a common law tort that applies to an activity or activities that causes a damage to contractual relations between parties. , 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 To direct, require, command, or admonish. Enjoin connotes a degree of urgency, as when a court enjoins one party in a lawsuit by ordering the person to do, or refrain from doing, something to prevent permanent loss to the other party or parties. the production of the motion picture "Alicia's Book." |
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