King of Pop' Michael Jackson's estate which was tipped to earn huge profits post the death of the pop icon has been hit by a $5 million lawsuit over a cancelled memorabilia auction.
Richard Lapointe, the plaintiffin the case has claimed that he was the highest bidder in the event being organised by Julien's Auction House and the cancellation caused him "emotional distress", reported TMZ online.
Lapointe is also suing Julien's, alleging that they called off the auction after receiving bids. In the lawsuit, filed in L.A. County Superior Court, Richard claims he was the only and therefore the highest bidder on 82 items and "may have been the highest bidder on not less than 88 additional items." He's asking for a minimum of USD 5 million, because he claims that's the "true market value of the items" he was bidding on.
Meanwhile, Darren Julien, the CEO of the auction house has rubbished the claim saying that Lapointe agreed to the terms on the bidder form which clearly stated that the auction could be canceled any time.
"He called us the day the auction was canceled and told us he has been emotionally damaged, and he asked what we would do to compensate for it. If he is that emotionally damaged, he can bet on the items when they come back up for auction on November 21st," said Julien in a statement.
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