Hedge Fund Movie's Director Beats Ex-Partner In Court

Aug 23 2011 | 11:52am ET

The writer and director of next year's would-be hit hedge fund movie Arbitrage is already a winner—in the courtroom.

Nicholas Jarecki has won a declaratory judgment against his former partner, producer Michael Ohoven, declaring him the sole screenwriter of the movie, which features Richard Gere and Susan Sarandon. A Los Angeles state court judge last week both dismissed most of Ohoven's countersuit against Jarecki and awarded Jarecki his sought-after declaratory judgement.

Jarecki still faces a breach of contract claim, but plans to argue it is preempted by federal copyright law. He also plans to file a motion seeking to force Ohoven to pay his legal bills.

The former partners split over a disagreement about where to film Arbitrage—it was made in New York. While the two sides had discussed a variety of terms prior to their falling out, nothing had been signed.

Arbitrage is about a hedge fund manager desperate to sell his firm to a major bank before his fraud can be uncovered. But things go wrong in “unexpected, bloody” ways, forcing Gere's character to seek help from an unlikely source.

In Depth

Q&A: Biotech Investing with Crossover Fund RA Capital

Sep 15 2015 | 5:40pm ET

Boston-based RA Capital Management is an intriguing mix of sophisticated life sciences...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note

Upcoming Events