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SC court nixes James Brown estate settlement
Court News |
2013/02/28 23:41
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The South Carolina Supreme Court on Wednesday overturned a settlement divvying up the multi-million dollar estate of James Brown, saying a former attorney general didn't follow the late soul singer's wishes in putting together the deal.
Attorney General Henry McMaster brokered a settlement in 2009 that split Brown's estate, giving nearly half to a charitable trust, a quarter to his widow Tomi Rae Hynie and leaving the rest to be split among his adult children.
But the justices ruled the deal ignored Brown's wishes for most of his money to go to charity. The court ruled the Godfather of Soul was of sound mind when he made his will before dying of heart failure on Christmas Day 2006 at age 73.
The court sent the estate back to a lower court to be reconsidered.
The justices did agree with the lower court's decision to remove Brown's original trustees. Members of Brown's family said they wanted them gone because the trustees mismanaged the estate until it was almost broke. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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