Franklin Mint Co. v. Superior Court

This writ proceeding arises in a malicious prosecution action in which plaintiffs Franklin Mint Company and its control persons, Stewart and Lynda Resnick (collectively plaintiffs), reached a settlement with two defendants, the trustees of the Diana Princess of Wales Memorial Fund and the Diana Princess of Wales Memorial Fund (No. 1) Limited (collectively, the Fund). The settlement agreement provides, among other things, that the Fund will pay $25 million into escrow, from which a grant of $1 million will be made to a charitable foundation controlled by plaintiffs, and grants totaling $24 million will be made in the names of the Diana Princess of Wales Memorial Fund and the Resnicks (or a charitable foundation controlled by the Resnicks) to certain identified charities they have jointly approved. Further, the Fund will ensure the attendance of its CEO as a witness at trial against the remaining defendants, and promises good faith efforts to aid plaintiffs in obtaining the attendance of third party witnesses. The trial court declared the settlement to be in good faith under Code of Civil Procedure section 877.6. Under section 877, subdivision (a), the court fixed the value…