Going for the Green: Investors Seek Win in Second Circuit

In 2014, shareholders of the for-profit corporation Winged Foot Holding Company (WFHC) filed suit alleging the company had breached its fiduciary duty under New York Business Corporation Law Section 720 and unjustly enriched itself. This suit stems from the WFHC Directors’ 2013 extension of a 1947 lease agreement to use the golf club grounds. Under the lease agreement, the annual rental payment is $30,000.

In their complaint, filed with the U.S. District Court for the Southern District of New York, the shareholders alleged that WFHC’s …

April 24, 2014 Contract

James Franco’s Management Team Suing Former Members for Embezzlement

On April 18, 2014, the management firm of Hollywood actor James Franco sued his recently fired talent manager Miles Levy and financial manager Steve Blatt in California state court, alleging that both conspired to fraudulently bilk the actor out of millions of dollars. The suit, filed by Randy James of James Levy Management, accused the defendants of “embezzl[ing] significant sums in commissions [ ] for nearly a decade . . . . The thieves have been caught and the day of reckoning has arrived.” Among …