After a months-long investigation, the Securities and Exchange Commission has announced that it will not pursue any action against the producers of the twice delayed Broadway production of Rebecca, according to The New York Times. The troubled musical had been under scrutiny by the S.E.C. after a fraud scheme came to light involving fictitious investors.
Lead producer Ben Sprecher told the Times that he hopes to open Rebecca in the fall of 2014 and that he has extended his rights agreement for the material through the end of next year. Originally capitalized at $12 million, the show will now have a $16 million budget, and Sprecher says he needs to raise an additional $5 million.
Based on the novel by Daphne du Maurier, Rebecca features a book and lyrics by Michael Kunze, music by Sylvester Levay and a translation by Christopher Hampton. The musical had originally been announced to begin previews in March 2012, delayed to September 2012, and canceled as rehearsals we about to begin when the fundraising fraud came to light. Stockbroker Mark Hotton, who perpetrated the fraud, pleaded guilty to federal charges in July and is now awaiting sentencing
The Rebecca creative team as of September 2012 included Tony Award winner Michael Blakemore and Francesca Zambello as co-directors, and a cast led by Jill Paice (now in Matilda) as the mysterious "I," Ryan Silverman (now in Chicago) as Maxim de Winter, Karen Mason as Mrs. Danvers, James Barbour as Jack Favell, Howard McGillin as Frank Crawley, Donna English as Beatrice de Winter, Nick Wyman as Giles and Henry Stram as Ben.