"Atlas Shrugged" copyright holder claims that it "had a misunderstanding" over licensing fees and copyright infringement
"Atlas Shrugged" — and shook that legal beef with Relativity and Netflix right off of his shoulders.
A lawsuit launched by "Atlas Shrugged" copyright holders Atlas Productions LLC over the 2011 adaptation of the Ayn Rand novel has been dropped, just two days after it was filed.
The suit, which named Relativity Media, RML Acquisitions and Netflix had sought $1.5 million.
Alleging breach of conflict, unjust enrichment, fraudulent misrepresentation and copyright infringement, the suit claimed that Relativity stiffed Atlas on a $750,000 license-fee payment and was likely to do so on a second payment. It also claimed that Netflix had violated Atlas' copyright by offering the film for rental.
Also read: "Atlas Shrugged," The Critics Slammed
"We had a misunderstanding, which has been resolved and we hope to continue to work together in the future," Atlas Productions told TheWrap through John Jahrmarkt, its attorney in the suit.
Relativity has not yet responded to TheWrap's request for comment.
The film, which starred Taylor Schilling, Grant Bowler and Edi Gathegi, grossed just over $4.6 million, with a production budget of $20 million, according to Box Office Mojo. Despite the poor showing, a sequel, "Atlas Shrugged: Part 2 – Either – Or," is scheduled for release in October.