Fox Can Keep Film Investment Co.'s $8.6M: Calif. Court

Law360, Los Angeles (September 28, 2011, 4:18 PM EDT) -- A California state appeals court on Monday affirmed that Twentieth Century Fox Film Corp. was entitled to keep $8.6 million after Smashing Pictures LLC failed to cough up an additional $16.4 million as part of an agreement to co-finance teen comedies.

In a 2-1 split decision, the court rejected Smashing’s argument that the companies’ agreement was ambiguous, ruling that the lower court had properly dismissed the case at the pleading stage after finding the agreement gave Fox the right to keep the funds if Smashing failed...
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