Plaintiff client brought a lawsuit in the Los Angeles Superior Court against defendants, Gary Walters and Walters Records, Inc. for breach of contract, fraud and conversion arising out of a business transaction wherein the defendants had licensed to the plaintiff the rights to certain Beatles’ Music, they were paid $45,000 for those rights and it turned out the defendants did not have those rights.
The plaintiff obtained a default judgment against the defendants for $450,000 plus costs of suit in the sum of $2,500. The defendants have appealed the default judgment. On December 19, 2003 the court of appeal over-turned the default judgment and ordered our client to file an amended complaint. The defendants just recently settled this case with our client.