Friday, January 3, 2014
A federal appeals court has revived a lawsuit by the sons of Bill Graham, who accused Nicholas Clainos, their father’s executor, of cheating them out of concert posters worth millions.
The fraud claim brought by David and Alexander Graham-Sult was dismissed in 2011. The federal judge ruled that the alleged fraud was an above-board transaction disclosed to the sons’ lawyer in 1997, which meant the four-year statute of limitations had expired.
The Ninth U.S. Circuit Court of Appeals ruled that the sons were never told of the memorabilia sale and that they had a right of first refusal as their father’s heirs.
See Bob Egelko, Sons of Bill Graham Get Estate Lawsuit Reinstated, San Francisco Gate, Dec. 27, 2013.