The Wolf of Wall Street producers fight hard against $25M defamation suit

An unhappy broker has lodged a $25 million defamation suit against Leonardo DiCaprio starrer Oscar-nominated film The Wolf of Wall Street. Defending themselves the producers of the film claimed in their legal papers that their right to free speech surpasses the broker’s right to privacy.

The lawsuit has been filed by Andrew Greene, a former employee of Stratton Oakmont. In their court filings both Paramount Pictures and Red Granite Productions have urged the federal judge to dismiss the suit. The suit was filed in February by Greene which complained that, though the film has not used his real name, references to his hairpiece and some biographical details make it clear that the character of Nicky “Rugrat” Koskoff is inspired from his life. He complained further that the particular character’s consumption of drugs, visiting red-light areas and involvement with financial frauds have highly tarnished his professional status. Advocates for the producers have noted that this character has been inspired by Greene and his adventures in the Wall Street.
The filing stated, “The Film is a dramatization inspired by true events surrounding the hundreds of millions of dollars of securities fraud perpetrated by a company called Stratton Oakmont.” It added, “As explained in the Film's credits, the Film employed composite characters to tell the story of the antiheroic protagonist, Jordan Belfort.” Paramount and Red Granite attorneys have also pointed out that Greene is not the sole person as the member of Jordan Belfort's questionable trades. The suit added further, “The viewers who had read the underlying Book would know that the Book described two financial executives affiliated with Stratton Oakmont who used ridiculous hairpieces.” Neither the attorneys nor Greene did immediately respond to requests for comment on the latest developments.