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Securities and Exchange Commission Will Not Take Action Against REBECCA Producers; Still Coming to Broadway in Fall 2014?

Securities and Exchange Commission Will Not Take Action Against REBECCA Producers; Still Coming to Broadway in Fall 2014?

According to the New York Times, the Securities and Exchange Commission will not take action against the producers of REBECCA. The new musical, which was originally scheduled to open on Broadway last fall, was cancelled after it was discovered that several of the show's investors never existed. A recent letter from the SEC to the producers' lawyers indicated that their "investigation of the producing team was complete and no enforcement actions would be pursued."

Ronald Russo, lawyer of lead producer Ben Sprecher, told NYT: "Now that Ben and the producers don't have this cloud over them, hopefully fundraising for the show will be somewhat easier and they can finally get 'Rebecca' to Broadway." Sprecher continues to raise money to bring the show to Broadway in Fall 2014- another $5 million is needed to reach the fundraising goal of $16 milion. If the show does not open by the end of 2014, the producers will have to return money to their investors.

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A reading for the show was held on March 11, 2013 featuring the talents of Ryan Silverman, Karen Mason, Jill Paice, James Barbour (all of whom were attached to star in the Fall 2012 Broadway run) and Rob Gallgher.

REBECCA, the new musical based on the classic novel by Daphne Du Maurier novel, previously delayed the start of its rehearsals by two weeks due reportedly to the death of a key investor responsible for a $4.5 million investment pool in the production. REBECCA was scheduled to begin rehearsals Monday, September 10 prior to an October 30 first preview and November 18 premiere at the Broadhurst Theatre.

REBECCA had its world premiere in 2006 at Vereinigte Buhnen Wien in Vienna, where it played to sold-out houses for more than three years. Vastly successful productions of REBECCA have also played Budapest, Hungary; Bucharest, Romania; Helsinki, Finland; Stuttgart, Germany; St. Gallen, Switzerland and at the Imperial Theatre in Tokyo.

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