Red Granite Pictures and Alexandra Milchan have settled their legal dispute over Martin Scorsese's “The Wolf of Wall Street” and dropped their respective lawsuits against one another, the two parties announced on Wednesday.
Milchan and her company, EMJAG Productions, sued Red Granite. She claimed that they had cut her out of the project and were refusing to pay agreed compensation for doing so.
Red Granite counter-sued, saying that it did not have any obligation to Milchan.
Red Granite Pictures owns the rights to Jordan Belfort’s best-selling memoir “The Wolf of Wall Street,” on which the film is based, and is fully financing the film and producing with Appian Way, Sikelia Productions and EMJAG Productions.
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The producers are Riza Aziz and Joey McFarland (Red Granite Pictures), Leonardo DiCaprio (Appian Way) and Scorsese and Emma Koskoff (Sikelia Productions). Milchan is an executive producer.
Red Granite’s foreign sales arm, Red Granite International, led by Danny Dimbort and Christian Mercuri, is handling international sales on the film.
Currently shooting in New York, “The Wolf of Wall Street,” is directed by Scorsese and features an A-list ensemble cast that includes Leonardo DiCaprio, Jonah Hill, Jean Dujardin, Rob Reiner, Matthew McConaughey, Kyle Chandler, Jon Favreau, Margot Robbie, Jon Bernthal, Cristin Milioti, P.J. Byrne and Ethan Suplee, among others.
Terence Winter adapted the screenplay, which chronicles Jordan Belfort's dramatic rise and fall on Wall Street, along with his hard-partying lifestyle and tumultuous personal life, which included drug and alcohol addiction.