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EPE GIVE ADDITIONAL LITIGATION DETAILS
April 02,  2018   -   By Michelle Corbet – Reporter, Memphis Business Journal    /   Elvis Express Radio
Elvis Presley Enterprises does not think two ongoing lawsuits are relevant to its Graceland expansion plans, but that decision isn't up to EPE. It's up to the EDGE board.
With one of its majority owners, Joel Weinshanker, involved in pending litigation, Elvis Presley Enterprises (EPE) must submit a list of any and all ongoing litigation as a supplement
to its latest EDGE application.

Applications with the Economic Development Growth Engine (EDGE) for Memphis & Shelby County include the following question:
________________________

"Is any materially significant litigation or administrative action pending or threatened against the Applicant, underwriter,
or any person serving as an officer or director of the Applicant or any person or entity owning a 5% or greater interest in
the Applicant or the Project? (If yes, please attach description)."
________________________

In its latest request for an up to $20 million bond issuance for a proposed 80,000-square-foot events and exhibit facility at Graceland, EPE answered, "No."

However, court documents show EPE is involved in a local lawsuit against Pyramid Tennessee Management LLC, a third-party hospitality management company.

Pyramid alleges EPE breached a seven-year contract to manage the Guest House at Graceland.

A holding company of Weinshanker, principal of EPE and manager of Graceland Holdings LLC, is also involved in a lawsuit in Delaware.

Weinshanker's Draw Another Circle LLC was a holding company for Hastings Entertainment Inc., a national entertainment retail chain, after a buyout in 2014.

Liquidating trustee Curtis Smith alleges Weinshanker hastened the chain's demise by "using Hastings as his personal piggybank" for additional investments including MovieStop LLC
and Sports Images Inc.

"From earlier conversations, EPE maintained that the litigation identified by the MBJ is not relevant to the projects brought before the EDGE board," said Nora Boone, EDGE's
director of marketing and communications. "EDGE maintains it is not the applicant’s decision to determine the litigation’s relevance to the project; but the decision of the EDGE
board. EDGE has requested that EPE update and amend the EDGE application with this new information."

James McLaren, a partner at Adams & Reese LLP, who represents EPE, confirmed through email that his client planned to submit a supplement to its original application.

"Although it is my opinion that there is no materially significant litigation with respect to the pending request for EDGE board approval of the financing for the 80,000-square-foot
facility by Pinnacle Bank, EPE will be filing a supplement to its bond application," McLaren said March 27.

McLaren confirmed Friday, March 30, that the supplement had been submitted to EDGE's legal counsel.

The supplement will be part of the application considered by the EDGE board at the special called meeting set for Thursday, April 5, at 3 p.m. at the Embassy Suites Hotel in East
Memphis.

"If If an applicant answers 'Yes' to the litigation question, the applicant will need to list all lawsuits the entity is involved [in]," Boone explained. "The EDGE board and EDGE counsel
will determine if the litigation, at hand, needs further research."


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