Nanes v. Garrison

Our client, who is a professional concert pianist, filed a lawsuit against the defendant for breach of contract, rescission of the contract, breach of fiduciary duty, fraud, and accounting. Our clients were investors in some film projects being produced by the defendant pursuant to written agreements they entered into with the defendant. Our client claimed the defendant defrauded them and breached the contracts by failing to properly keep accounting records of the film projects and by failing and refusing to provide them with information on the film projects and financial information relating to them.  

A CPA referee was appointed by the court to determine if the defendant had in fact maintained the books and records of the films in accordance with generally accepted accounting principles. The CPA referee determined that the defendant failed to comply with the agreements and to keep the books and records of the film projects properly.

After trial, the court ruled that the defendant materially breached the contracts by failing to maintain the books and records. Our clients were awarded their initial investment sums, accrued interest on the principal in the total sum of $100,500.  Our clients were also awarded their costs of suit.