 2 Saints players say movie studio owes them $510k
NEW ORLEANS—New Orleans Saints defensive end Charles Grant and tight end Jeremy Shockey claim they're owed $510,000 by a movie studio at the center of an investment dispute involving current and former teammates.
Grant and Shockey asked a federal judge Tuesday to allow them to join a lawsuit seeking forced bankruptcy against Louisiana Film Studios LLC. The suit accuses studio CEO Wayne Read of selling $1.9 million in state movie tax credits to 27 people, many with connections to the Saints. However, it says he never applied for the credits or returned the money.
Read has said he intends to pay the money back after securing other investors or by obtaining credits from a broker.
A list of buyers obtained by The Associated Press says Grant invested $425,000 while Shockey paid $85,000.
By ALAN SAYRE AP Business Writer
Posted: 08/04/2009 12:32:51 PM PDT
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August 4th, 2009
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