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Hedge Fund Pares Movie Co. Founder’s $100M Fraud Suit

Law360, Los Angeles (January 9, 2017, 10:47 PM EST) -- A California judge Monday trimmed a $100 million suit brought by the founder of Modern VideoFilm alleging hedge fund Medley Capital Corp. fraudulently took over the Hollywood postproduction company, saying an aiding and abetting claim was “devoid of any factual allegations.”

Moshe Barkat, through his ownership of Modern VideoFilm Holdings LLC — the sole holder of the now-defunct company’s shares at the time control was assumed by Medley — filed suit against the hedge fund and a host of other defendants in August 2016, about two...
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