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Akon Ignores Investment?
Highest Court N.D. Georgia
Year Ended 2011
Plaintiffs Investor(s)
Defendants Akon
Konvict Muzik
Music Executive(s)
Other Glowb
Short Description Plaintiff is apparently an investor that loaned $400,000 to a Konvict Muzik, a multifaceted music company co-founded by hop-hop artist Akon. Plaintiff signed a contract with the other co-founder, who was acting on behalf of one of the many limited liability companies operating under Konvict's umbrella. The money was loaned for the development of a hip-hop group called Glowb. The Defendants in this case included many different Konvict-related companies (and Akon himself), not just the company with which the contract was signed, even though the contract itself contained language limiting the agreement to the undersigned parties. Despite liberal pleading requirements, the court granted Defendants' motion to dismiss on the pleadings. Plaintiff's breach of contract action was dismissed because Plaintiff never signed a contract with most Defendants, and the signatory was not acting as Defendants' agent when signing. Conversion was dismissed because Plaintiff did not sufficiently allege that Defendants ever received or had actual possession of the loaned funds; fraud and unjust enrichment were dismissed for the same reason. Though it seems Defendants did indeed wrong Plaintiff, Plaintiff will need to learn how and whom to sue, if Plaintiff wants remuneration. - LSW

Legal Issues
Contracts Breach Payment & Performance
General Equitable Actions Unjust Enrichment
Torts Economic Torts Fraud, Misrepresentation & Inducement
  Property Torts Conversion


Opinions D.M.I. Dynamic Management & Investments, B.V. v. Konvict Muzik, LLC
2011 WL 2119131
N.D. Georgia , May 26, 2011 ( Civil Action File No. 1:10_CV_3510_TWT )


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Related Searches Parties
Akon ( Defendant )
Glowb ( Other )
Investor(s) ( Plaintiff )
Konvict Muzik ( Defendant )
Music Executive(s) ( Defendant )

Legal Issues
Contracts / Breach / Payment & Performance
General / Equitable Actions / Unjust Enrichment
Torts / Economic Torts / Fraud, Misrepresentation & Inducement
Torts / Property Torts / Conversion

Courts
N.D. Georgia (highest court)


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