A lawsuit filed against former Duke University basketball players Christian Laettner and Brian Davis was resolved in a court hearing recently.
The lawsuit alleged Laettner and Davis, who are the developers of a real estate project in Durham, had a complaint filed against them by Peter Ghavanmi and his wife Julie Britton, who alleged money was owed to them by the former Duke players, the Durham Herald-Sun reported.
The complaint was filed November 5, 2010 with Ghavanmi alleging he used his $550,000 investment account to secure a $338,000 letter of credit to supplement the business that Davis, Laettner and Britton were involved in, according to the Herald-Sun.
According to the lawsuit, Fuller Street Development is a limited liability company that was managed by Laettner and Davis and invested in by Ghavami. After Ghavami's investment account wasn't released by the scheduled date, he filed a lawsuit alleging Laettner and Davis owed him $2,000 per day for the period the account was not released, or at least $75,000, the news source reported.
The lawsuit was thought to be resolved pending the closing of a real estate transaction, an attorney involved told the Herald-Sun.
Laettner played in the NBA for 13 years while Davis played only one.