Festival addicts everywhere can stop holding their breath-- Pasquale Rotella, CEO of Insomniac Events was granted a dismissal on four counts of embezzlement by Los Angeles Superior Court Judge, Kathleen A. Kennedy in court this morning.
Insomiac was quick to release a statement on the victory:
"We are extremely pleased with the Court's ruling this morning. The ruling confirms what we've maintained from day one - that Mr. Rotella didn't steal a penny from the Coliseum - he paid money."
The origunal suit began with a grand jury indictment of Rotella, fellow EDM festival promoter Reza Gerami, and ex-LA Coliseum events manager Todd DeStafno on chargers of corruption, & allegations that the promoters paid DeStefano under the table for ease of access to use the public Los Angeles' grounds for events. (Sports Arena & Coliseum) The alleged payout? $1.8 million. Prosecuters believe that email documents sent back and forth over a number of years proved the promoters were bribing DeStefano for easy, stable, and cheap transactions to use the high-capacity sports venues.
Still on the table? One count of conspiracy to commit embezzlement and one count of bribery. Court has been scheduled in December to determine the outcome of these outstanding allegations.