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Complaint FILED 1

Complaint FILED 1

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Published by SharonWaxman

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Published by: SharonWaxman on Feb 08, 2012
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02/08/2012

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PRINTEDON
RECYCLEDPAPER
8521970v17
1JEFFERMANGELSBUTLER
&
:MITCHELLLLPSTANLEYM.GIBSON(BarNo.162329)2BRIANM.YATES(BarNo.241798)1900AvenueoftheStars,SeventhFloor3LosAngeles,California90067-4308Telephone:(310)203-80804Facsimile:(310)203-05675·AttorneysforPlaintiffsAR.A1v1IDENTERTAINMENTFUNDLI:MITEDandARAMIDGRANTORTRUST
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Complaint
7
CONFORMEDCOpy
OFORIGiNALFILED
LosAngele:;;SuperiorCourt
FEB082012
8
SUPERIORCOURTOFTHESTATEOFCALIFORNIAFORTHECOUNTYOFLOSANGELESARAMIDENTERTAINrvIENTFUNDLI:MITED,aCaymanIslandscompany;andARAMIDGRANTORTRUST,aDelawarestatutorytrust,Plaintiffs,
v.
FORTRESSINVESTMENTGROUPLLC,aDelawarelimitedliabilitycompany;CFFILMFINANCEABLLC,aDelawarelimited4.liabilitycompany;RELATIVITYMEDIA,LLC,aCalifornialimitedliabilitycompany;RELATIVITYMEDIAHOLDINGSILLC,a
5.
Delawarelimitedliabilitycompany;BEVERLY
6.
BLVDLLC,aDelawarelimitedliability7.company;LORDSECURITIESCORPORATION,aDelawarecorporation;andDOES1-100,inclusive,
8.
9.
Defendants.
BC4785"89
CASENO.COMPLAINTFOR:
1.
2.
BREACHOFCONTRACT;BREACHOFTHEIMPLIEDCOVENANTOFGOODFAImANDFAIRDEALING;INTENTIONALINTERFERENCE
WITH
CONTRACTUALRELATIONS;INTENTIONALINTERFERENCEWITHPROSPECTIVEECONOMICADVANTAGE;FRAUD;FRAUDULENTTRANSFERAIDING,ABETTING
AND
INDUCINGFRAUDULENTTRANSFER;BREACHOFFIDUCIARYDUTY;AIDING,ABETTING
AND
INDUCINGBREACHOFFIDUCIARYDUTY
3.
 
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PlaintiffsAramidEntertainmentFundLimitedandAramidGrantorTrustallegefortheirComplaintasfollows:
INTRODUCTION
1.Thisisoneofthegreatestheiststoriesevertoldinthemoviebusiness.Itinvolvesastunningcastofcorporatecharacters:oneoftheworld'slargestentertainmentcompanies,thethirdlargestbankinAmerica,oneoftheworld'slargesthedgefunds,andavehicletwoofthemhelpedbringtolifeinordertofinanceover$1billionworthoffeaturefilms.Behindthescenes,thisvehiclewasultimatelyhi-jacked,forciblydismantledandruthlesslyplunderedinordertolinethepocketsoftheDefendantsandtoknowinglydeprivePlaintiffsoftheirrights.PlaintiffsAramidEntertainmentFundLimitedandAramidGrantorTrustbringthisactiontorightmultiplewrongs-includingbreachofcontract,breachoftheimpliedcovenantofgoodfaithandfairdealing,intentionalinterferencewithbothcontractualrelationsandprospectiveeconomicadvantage,aswellasfraud,fraudulenttransferandbreachoffiduciaryduty.Plaintiffsseekrestitutionanddamagesofnotlessthan$44million,oraccordingtoproofattrial.
PARTlES
2.PlaintiffAramidEntertainmentFundLimited("Aramid")is,andatalltimesmentionedhereinwas,acompanyorganizedunderthelawsoftheCaymanIslandswithitsprincipal
,
placeofbusinessinGrandCayman,CaymanIslands.Aramidisanopen-endedinvestmentcompanywhich,since2006,hasprovidedshortandmediumtermliquiditytoproducersanddistributorsoffilm,televisionandothermediaandentertainmentcontent.3.PlaintiffAramidGrantorTrust("AGT")is,andatalltimesmentionedhereinwas,astatutorytrustorganizedunderthelawsofDelawarewithitsprincipalplaceofbusinessinDelaware.4.DefendantFortressInvestmentGroupLLC("Fortress")is,andatalltimesmentionedhereinwas,alimitedliabilitycompanyorganizedunderthelawsofDelawarewithofficesinmultiplelocationsincludingLosAngeles,California.Onitswebsite,Fortressdescribes
-2-
Complaint
 
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itselfas"aleadingglobalinvestmentmanagementfirm."5.DefendantCFFilmFinanceABLLC("CFFilmFinance")is,andatallrelevanttimesmentionedhereinwas,alimitedliabilitycompanyorganizedunderthelawsofDelaware.Plaintiffsallege,oninformationandbelief,thatCFFilmFinanceconductsbusinessinCalifornia.Plaintiffsfurtherallege,oninformationandbelief,thatCFFilmFinanceisawholly-ownedsubsidiaryofFortress.6.DefendantRelativityMedia,LLC("Relativity")is,andat
all
timesmentionedhereinwas,alimitedliabilitycompanyorganizedunderthelawsofCaliforniawithitsprincipalplaceofbusinessinWestHollywood,California.7.DefendantRelativityMediaHoldingsILLC("RMH")is,andat
all
timesmentionedhereinwas,alimitedliabilitycompanyorganizedunderthelawsofDelawarewithitsprincipalplaceofbusinessinWestHollywood,California.RMHisawholly-ownedsubsidiaryofRelativity.8.DefendantBeverlyBlvdLLC("Beverly")is,andat
all
timesmentionedhereinwas,.alimitedliabilitycompanyorganizedunderthelawsofDelawarewithitsprincipalplaceofbusinessinWestHollywood,California.Beverly
is
awholly-ownedsubsidiaryofRMH.9.DefendantLordSecuritiesCorporation("Lord")is,andatalltimesmentionedhereinwas,acorporationorganizedunderthelawsofDelaware.Plaintiffsallege,oninformationandbelief,thatLordconductsbusinessinCalifornia.LordisthemanagerofRMHandBeverly,bothofwhicharebasedinCalifornia.10.PlaintiffspresentlydonotknowthetruenamesandcapacitiesofDefendantsDoes1through100,inclusive,andforthatreasonsuesuchDefendantsundersuchfictitiousnames.PlaintiffswillfurtheramendtheirComplainttoshowthetruenamesandcapacitiesoftheDoeDefendantswhentheyhavebeenascertained.11.Plaintiffsareinformedandbelieveandbasedthereonallegethat,atalltimesmentionedbelow,theDefendants,includingtheDoeDefendants,andeachofthem,weretheagents,servantsandemployeesofoneanotherand,indoingthethingsmentionedbelow,wereactingwithinthecourseandscopeofsuchagency,employmentandservice,andwiththe-3-
Complaint

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