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Ron Burkle Feels stiff during the sale of the Weinstein Company
Investor Yucaipa Cos sued Lantern Capital, the new owner of the studio, for not having paid the transaction fees of nearly 6 Million Dollars "
The due diligence that she provided to Lantern enabled the private equity firm to submit the winning bid of $ 289 million for the studio, Yucaipa said in a statement. court documents. 19659002] Yucaipa, in his lawsuit, alleges that he has an oral agreement with Lantern to receive 2 percent of any purchase price
"Virtually all of Lantern's knowledge about [the studio] was obtained taking advantage of the due diligence carried out and paid for Yucaipa says that he was approached by Lantern, a Dallas PE business, when last year, Weinstein co-founder, Harvey Weinstein's allegations of fraud and mischief. Sexual misconduct endanger the future of the studio.
Having invested in 12 films of Weinstein Co. – including "Crouching Tiger, Hidden Dragon" and "August: Osage County" – Yucaipa calls himself "natural" to
Lantern initially committed $ 50 million to a group sponsored by Yucaipa and headed by former Obama administration official, Maria Contreras-Sweet.
L & # 39; Group offer to buy the pre-bankruptcy of 500 million dollars More t After the parties considered bankruptcy inevitable, an oral agreement allowed Lantern to continue using Yucaipa's diligence for the same 2 percent – or $ 5.78 million, based on closing the deal. The price, the claim claims.
Yucaipa argues that Lantern "indicated that he would no longer honor the agreement."
A lantern spokesman told the post, "Do not comment on the dispute."
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