Wednesday, February 8, 2012

Relativity Media prosecuted by Aramid Entertainment

Aramid Entertainment, certainly one of Relativity Media's original traders, filed a suit against Relativity in La Superior Court Wednesday accusing the organization of fraud along with other charges with regards to its handling from the Beverly film financing deal for The new sony Pictures.Complaintant is seeking restitution and damages with a minimum of $44 million. Private equity finance giant Fortress Investment Group can also be one of the accused.Suit, that is introduced as "among the finest heist tales ever told within the movie business," is replete with accusations of wrongdoing and takes particular are designed for Relativity topper Ryan Kavanaugh.Relativity reps didn't immediately react to a request comment.Films pointed out within the suit include Sony's "Anonymous," "21 Jump Street" and approaching Adam Sandler pic "I Personally Don't Like You Father," that has since been retitled "That's My Boy."Suit alleges that Relativity increased too large too quickly, stating that the business's unprofitable purchases of Rogue Pictures and Overture Films brought to some massive overhead its finances could not sustain.More in the future ... Contact Shaun Sneider at shaun.sneider@variety.com

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