Red Granite, Milchan drop cases; New Regency exec gets exec producer credit
The parties swapped lawsuits over the film in August, sparked by Milchan’s claim that the production shingle was trying to cheat her out of fees and credits associated with the Martin Scorsese drama.
Red Granite fired back in a counterclaims which asserted it had “no obligation of any kind” to Milchan.
The parties have dropped their respective suits, and Milchan will receive an exec producer credit on the film as well as a financial payment of an undisclosed amount. According to her original suit, the New Regency exec claimed she was entitled to receive a producer credit and hundreds of thousands of dollars in fees from the movie.
Producers are Riza Aziz and Joey McFarland of Red Granite, Appian Way’s Leonardo DiCaprio, Scorsese and Sikelia Prods.’ Emma Koskoff.
Red Granite owns the rights to Jordan Belfort’s best-selling memoir by the same name. Company will fully finance and produce with Appian Way, Sikelia and EMJAG.
Pic is based on Belfort’s tale of a stockbroker who refuses to cooperate in a giant fraud case in the corporate banking world. DiCaprio will also star.