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Thursday, May 3, 2012

Breaking News on the Miramax and David Bergstein

Earlier this week, we posted about David Bergstein's lawsuit against Miramax's principals.  Apparently, by the time we reported on it, the case had already settled.  Today, we received this update in the form of the following press release:

FOR IMMEDIATE RELEASE

MIRAMAX AND DAVID BERGSTEIN REACH AGREEMENT 

Bergstein Dismisses Lawsuit, Retracts All Claims and Accusations

SANTA MONICA, CA – April 24, 2012 – Filmyard Holdings LLC and David Bergstein today announced they have reached an agreement under which Mr. Bergstein will dismiss the lawsuit filed on April 9, 2012 in the Superior Court of California for the County of Los Angeles, Central District.  Terms of the agreement are not being made public.

Mr. Bergstein stated, “I am pleased that I was able to sit down with my counterparties in this suit, discuss our differences and resolve them.  I fully retract the claims made in the lawsuit against Filmyard, Miramax, Colony Capital, Richard Nanula and Josh Grode.  I’d like to thank everyone involved for their understanding and cooperation.”

Richard Nanula, a principal at Colony Capital, one of the owners of Filmyard, stated, “We want to recognize the contributions David made that ultimately led to Filmyard’s ownership of Miramax.  Without his efforts this very successful transaction wouldn’t have happened.”

 [JT]

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