Rebecca Lawsuit Highlights Importance of Due Diligence

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When seeking funding for a movie, television, or theater production, it can be difficult not to jump at the first investor that comes forward. However, as a recent entertainment lawsuit highlights, not all investors are who they claim to be.

Producers of the Broadway show Rebecca-The Musical (which is based on the 1938 novel Rebecca by Daphne du Maurier) have filed a $100 million fraud lawsuit against a stockbroker who had promised to secure funding for the show. Mark C. Hotton has also been arrested on criminal charges.

According to the civil lawsuit, Hotton presented himself as a registered stockbroker and someone who had experience in funding theater productions. However, the producers contend that it turned out to be an elaborate fraud.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Donald Scarinci, Scarinci Hollenbeck | Attorney Advertising

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