RUMOR MILL
Thursday, August 17, 2000
JUDGE DISMISSES
PULLMAN CLAIM
$2 Billion Breach-Of-Contract Suit Against CAK/Universal Credit Doesn’t Fly
A New York federal judge Wednesday (8/16) dismissed a $2 billion breach-of-contract lawsuit filed by entertainment securitization bond creator the Pullman Group against Charles Koppelman's CAK/Universal Credit Corp., Prudential Securities and others.
In its complaint, the Pullman Group alleged that it and its former partner, business management firm Rascoff/Zysblatt Organization, had sought a joint venture with Prudential in 1997, but that the defendants appropriated information to create a similar setup without Pullman's participation.
In its complaint, the Pullman Group alleged that it and its former partner, business management firm Rascoff/Zysblatt Organization, had sought a joint venture with Prudential in 1997, but that the defendants appropriated information to create a similar setup without Pullman's participation.
