Lol Creme, an individual, and Lol Creme Productions, Inc. v. Gelfand, Rennert & Feldman, a division of Coopers & Lybrand, L.L.P., et al.
Published: Apr. 5, 1997 | Result Date: Mar. 14, 1997 | Filing Date: Jan. 1, 1900 |Case number: BC145212 – $2,100,000
Judge
Court
L.A. Superior Central
Attorneys
Plaintiff
Henry D. Gradstein
(King, Holmes, Paterno & Soriano LLP)
Defendant
Stephen F. Moeller
(Valensi Rose PLC)
Facts
In 1989 plaintiff Lol Creme, a well-known recording artist, music producer and video director, and Lol Creme Productions, Inc., his independent production company, contracted with defendant Coopers & Lybrand, L.L.P.'s entertainment/business management division, known as Gelfand, Rennert & Feldman, for business managent services. The plaintiffs gave the defendants complete control of the plaintiffs' income, bank accounts and other investments. The plaintiffs brought this action against Coopers and Lyband, Gelfand, Rennert & Feldman and Nicholas Brown the managing parties of the entertainment business management division, based on breach of fiduciary duty, breach of contract and fraud theories of recovery.
Settlement Discussions
The plaintiffs made a C.C.P. º998 settlement demand for $950,000, withdrawn before trial. The defendants made a series of settlement offers during trial, the last of which was $1.75 million. The defendants' offers were rejected by the plaintiffs.
Damages
The plaintiffs claimed $2.1 million in compensatory damages. The plaintiffs also sought punitive damages.
Other Information
The verdict was reached approximately one year and one month after the case was filed. The jury found that the defendants had acted with malice or fraud. Eight hours after the jury rendered its verdict regarding compensatory damages, and before the punitive damages phase, defendant Coopers & Lybrand settled the matter for an undisclosed sum in addition to compensatory damages.
Deliberation
4+ hours
Poll
12-0
Length
11 to 12 days
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390