STORY: The company that had intended to auction off Graceland, singer Elvis Presley's iconic mansion in Memphis, dropped its plan on Wednesday.
That's after a Tennessee judge blocked the sale following allegations of fraud.
"The court will enjoin the sale as requested."
Graceland, where Presley is buried, is a popular tourist attraction, drawing more than 600,000 visitors a year.
Presley, dubbed the "King of Rock and Roll," died in 1977 at age 42.
Naussany Investments had claimed that his daughter, Lisa Marie Presley - who died last year - had used Graceland as collateral to secure a $3.8 million loan that was never repaid, according to a public notice of the intended sale.
Then Presley's granddaughter, actress Riley Keough - who inherited the home after her mother's death - sued Naussany, asserting that her mother never took out the loan and that Naussany was engaged in fraud.
In a sworn affidavit attached to the lawsuit, the notary public listed on Naussany's documents said she never met Lisa Marie Presley or notarized her signature.
The judge on Wednesday said the notary's statement brought into question whether the underlying loan document was fraudulent, and issued a temporary injunction halting the sale.
Shortly after the ruling, in response to Reuters' request for comment, Gregory Naussany, whose role in the company is not clear, said Naussany Investments would withdraw all of its claims over Graceland.
