12:26pm PT by Eriq Gardner
'Wolf of Wall Street' Financier Gets Racketeering Claim Dropped
Brad Krevoy and Steve Stabler have withdrawn a racketeering claim against Red Granite Pictures as part of a settlement of litigation.
The two producers have been involved in a legal battle over Dumb and Dumber To after being excluded from the sequel to the 1994 comedy starring Jim Carrey and Jeff Daniels. Krevoy and Stabler worked on the first film and allege that they had a contractual right to be involved in or compensated for the follow-up. Red Granite has insisted that it has no obligations toward the two.
The litigation took an explosive turn this past March when the producers targeted Red Granite principals Riza Aziz and Joey McFarland for alleged racketeering.
Red Granite produced The Wolf of Wall Street, and an amended complaint against the company accused the film financiers of using embezzled foreign money to make its films. In response, Red Granite painted the allegations as "relying only on gossip and speculation" and threatening sanctions if the racketeering charge was pursued.
The judge had scheduled a hearing next month to consider whether the claim should be allowed, but the entire case now has been settled. Financial considerations weren't revealed, but the deal will mean that Dumb and Dumber To will be released later this year by Universal Pictures later this year without animosity hanging in the background.