(all times Eastern)
Former Saints teammates file suit over investment (3/7/10 5:59 PM EST)
NEW ORLEANS -- Saints player Jeremy Shockey and former player Charles Grant are suing ex-teammate Kevin Houser over an investment worth hundreds of thousands of dollars tied to a defunct movie studio. Shockey and Grant paid for what they thought would be state movie industry tax credits returning $1.33 for each dollar they invested. But state officials say the CEO of Louisiana Film Studios LLC never applied for the credits and investors' money was never returned. Houser, a licensed securities broker, previously said he told some Saints teammates about the tax credits. In a lawsuit filed Friday in federal court, Grant and Shockey say they lost a combined $510,000. Houser's attorney, Jimmy Castex, said he stands by earlier statements that Houser is a victim. Houser and his wife, Kristen, bought some of the credits.
Copyright 2010 by The Associated Press
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