Jeff Lipsky has added a third title to the pipeline, taking US rights to Debbie Goodstein’s semi-autobiographical coming-of-age story.

Adopt plans a 2012 Memorial Day weekend platform release for the 1970s-set story about a man who relocates his family from New York to Brooklyn and spends beyond his means in order to create the good life.

Chazz Palminteri and Andie MacDowell star alongside Jodelle Ferland and MacDowell’s real-life daughter Rainey Qualley in her debut lead role. Ajae Clearway and Kathryn Wallack produced.

“It is an honour to trumpet the return of Debbie to the director’s chair,” said Lipsky, who serves as co-managing partner with Minnesota-based Tim Grady and Karen Sternal.

Mighty Fine is a highly personal, deeply moving and funny crowd-pleaser, and in it we believe we have a perfect piece of counter-programming to deliver on one of the most potent movie-going weekends of the year. And what a cast.”

Lipsky negotiated the deal with co-executive producer Barbara Goodstein.

Adopt’s maiden slate includes documentary The Ballad Of Genesis And Lady Jaye and erotic drama Nuit #1.