Patrol Craft and Pleasure boat market. Giovanni Theodoli's (Katrin and Filippo's only son) addition to Magnum has been to seek to resurrect some of company's classics, such as the magnum 27’, which has been re-designed and re-released some 40 years after the original was first released. Legal issues In 1995, Magnum Marine was sued by William Farley and Alan Graves. The two were cruising on a sixty three foot Magnum Marine yacht off the coast of Portland, Maine when the boat caught fire and sank. The plaintiffs filed suit saying that the fire suppression system on the yacht was improperly "selected, designed, and installed". The plaintiff sought to recover the costs of both their personal possessions on board the yacht at the time of sinking, as well as for the yacht itself. The court eventually ruled in favor of Magnum Marine under the precedent of the East River Steamship. References External links Magnum Boats American boat builders