Latest in Seven Arts Entertainment

UPDATE, 9:37 AM: Adds expanded Peter Hoffman response to verdict. 2nd UPDATE, Monday 5:46 PM: Peter Hoffman told Deadline he is “stunned” by the verdict but would have no other comment until he moves to have it set aside. UPDATE, Monday 4:51 PM: Peter Hoffman, Hollywood's once-highflying guru of exotic tax breaks, has…

UPDATED, 1:47 PM: A federal judge has denied Seven Arts Entertainment founder Peter Hoffman's motion to dismiss the fraud charges against him stemming from $1.13 million he obtained in Louisiana tax credits to refurbish a run-down old New Orleans mansion and turn it into a state-of-the-are postproduction facility…

Peter Hoffman pleaded not guilty today at his arraignment in Federal District Court in New Orleans on six felony counts of defrauding Louisiana's film incentive program. A trial has been set for January. A hearing on the Seven Arts Entertainment founder's motion to dismiss the charges is scheduled for July 16…

The beleaguered Seven Arts Entertainment lost an additional 35% of its stock value today, closing at $0.0011 a share. The loss comes after the NASDAQ-traded stock plunged 15% on Friday. The company's shares now sell for about one-tenth of a penny – down from a 52-week high of $17.50. As reported here Monday, Seven…

He beat federal prosecutors on felony tax fraud charges once before, and former Seven Arts Entertainment CEO Peter Hoffman says he'll do it again. Indicted in April for allegedly masterminding a fraudulent film tax credit scheme in Louisiana, Hoffman told Deadline that he believes the U.S. Attorney's office has…

NASDAQ told the beleagured independent movie production company yesterday that it’s concerned about possible violations of its rules regarding notification of new share issuance — and the requirement for investors to approve new securities that could represent more than 20% of the voting shares. The market also has…