An Alabama man and a Georgia man claim they lost money when a variety of companies failed to reimburse them for producing concert events.
Jenorris James and Wilburt Smith filed a lawsuit Nov. 20 in Jefferson County District Court against Stack10, Darrick McGriff and Felicia Stoudemire-Tyus.
In their complaint, James and Smith allege they entered into various investment agreements with Stack10 and McGriff in which they agreed to produce a concert called Thanksgiving Silky Soul Tour.
In exchange for investing $20,000 in headliner Frankie Beverly and Maze, Smith was supposed to receive 20 percent interest in the event’s net income, according to the complaint. James agreed to invest $35,000 in exchange for 35 percent interest in the event’s net income, the suit states.
Although the concert was held as scheduled on Nov. 27, 2010, in New Orleans, the plaintiffs have still not received any of the promised money, the complaint alleges.
“At some point after the initial investment, Mr. McGriff represented to the plaintiffs that the concert had lost money, but that some of their investment was left over,” the suit states. “Mr. McGriff then advised plaintiffs that he could get their money back if they invested in other events. The money was apparently invested in other events, but never broke even for the losses at the original concert.”
The plaintiffs allege breach of contract and common law fraud against the defendants.
They seek actual, special and exemplary damages, plus pre- and post-judgment interest at the highest legal rate, costs, attorney’s fees and other relief the court deems just.
Eric W. Newell of Brent Coon and Associates in Beaumont will be representing them.
Judge Donald Floyd, 172nd District Court, has been assigned to the case.
Case No. E193-621