My sources within the Hollywood legal community tell me that producer Cathy Schulman, who was sued by Michael Ovitz and at one point facing a terrifying $4 million judgment, has won her appeal and now a new arbitration so that she owes the Hollywood has-been nothing. Nada. Zilch. I don’t have many details because there’s a gag order on all the parties involved. But Ovitz started this 7 years ago, and Schulman finished it. She doesn’t win anything per se, but Ovitz does owe her attorneys fees for those appeals. At one point, Ovitz, whose main occupation these days seems to be bullying people with lawsuits, virtually bankrupted Cathy while she defended herself. But she’s an incredible story of perseverance and kept at it in the courts and in the movie business, helping produce 2006 Oscar-winner Crash and now making films as president of Mandalay Pictures. Her latest lawyer Mark Geragos took over Schulman’s case and finally brought the whole nightmare to an end. First, that $4 million judgment was reversed on appeal. Then a redo arbitration decided that Schulman wasn’t liable for the demise of Ovitz’s ill-conceived management and production company AMG or its film division Artists Picture Group. I’m told this is the end of the legal road for Mike. It’s also finally over for Cathy.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.