Jackie Robinson Foundation Cleared Over Memorabilia Agreement

The Jackie Robinson Foundation should be cleared of claims that it breached an agreement to support the promotion and sale of two 1940s-era Robinson contracts brought by a company accused by the SEC of falsely claiming it owned the contracts and exaggerating their value, a federal magistrate in Manhattan said.

In the underlying case, the Securities and Exchange Commission alleges that the representations of Mykalai Kontilai and his company, Collector’s Coffee Inc., doing business as Collectors Cafe, were false and misleading because CCI didn’t own a 100% interest in the contracts, and there was “substantial doubt about the $36 million ...