Over the last few weeks stories
have been circulating around the internet over this particular story. Thank you
to Dave Turner for bringing the story to my attention.
The famed filmmaker says he has
undertaken herculean efforts to obtain information about his investment into a
company researching a diabetes drug. Clint Eastwood is giving new meaning to
the term "multiphyphenate." He's an actor-director-producer.
Apparently, he's also a philanthropist, healthcare investor and, now, a patent
avenger seeking to reclaim intellectual property that could be used to combat
diabetes and other diseases.
Eastwood went to court with the
kind of production that one would hardly expect from him. According to the
complaint, he has long been investing in the work of Dr. Harry Demopoulos, who
before dying last year had tiny roles in movies plus was a medical researcher
credited with inventing the field of free radical pathology. Dr. Demopoulos
devoted much of his work to the research and development of glutathione, a
supplement said to boost the immune system. Eastwood is now suing Molecular
Defenses Corporation and its chief Kevin Davis.
As a substantial shareholder to
Demopoulos' company, Antioxidant Pharmaceuticals Corporation, Eastwood says he
is seeking redress for "swindling through outright usurpation, covert
intellectual property transfers and corporate shell games."
Specifically, Eastwood says that
in late 2015, APC went through an alleged restructuring, consolidating
businesses under the umbrella of a newly formed entity, Molecular Defenses
Corporation.
"In the midst of this
allegedly voluntary restructuring, however, Dr. Demopoulos unexpectedly
suffered a massive stroke in early 2016," states the complaint. "It
was at this tragic time when Defendants pounced, seizing Dr. Demopoulos’
business (and six U.S. glutathione patents) for their own ends."
Eastwood alleges that Davis
incorporated another entity — also named Molecular Defenses Corporation — and
while Dr. Demopoulos was undergoing recovery in the hospital, "Defendants
caused the preparation of a subscription agreement — purportedly signed by Dr.
Demopoulos by his 'Attorney in Fact' — providing for the assignment of the six
U.S. glutathione patents from APC to Defendant Molecular Defense Holdings, LLC
in exchange for membership rights in this Defendant-entity."
What Eastwood says he didn't know
was that APC had already technically dissolved 15 years prior without any
distribution of assets to shareholders such as himself.
"Dr. Demopoulos passed away
a short time later, leaving unfinished (and in shambles) his alleged efforts to
consolidate his business and account for the resulting rights and equity owed
the shareholders," the complaint continues. "Since Dr. Demopoulos’
stroke, the Eastwood Trust has undertaken herculean efforts to obtain
information from Defendants concerning the business operations, shareholders
and intellectual property of Dr. Demopoulos’ companies, including with respect
to the Defendant- entities. But Defendants refuse to provide even the bare-minimum;
instead, they spent the last two years employing a strategy of inordinate delay
with kind words, empty promises and the trickling of incomplete, contradictory
and the vaguest of information. All the while, during which time they solicited
additional investments from the Eastwood Trust, Defendants have been working to
develop and profit from all of the glutathione patents that rightfully belong
to the shareholders of APC, including the Eastwood Trust."
Eastwood wants declarations over
inventorship and a constructive trust over patents. He also is claiming
conversion, and is represented by Paul LiCalsi and other attorneys at Robins
Kaplan.
Davis couldn't be reached for comment.