Goldcrest seeks millions it says were diverted by deceptive accounting, bonuses paid to Kristen Stewart, Robert Pattinson
Goldcrest Film Distribution is suing Summit Entertainment over box-office profits from the blockbuster “Twilight” film franchise.
The finance company's suit, which seeks “to recover several million dollars in payments,” was filed Wednesday in L.A. Superior Court. It alleges that Lionsgate's Summit engaged in deceptive accounting practices that understated the revenues from the films and overstated its costs.
The suit also claims that Summit paid some of the money owed Goldcrest to Kristen Stewart, Rob Pattinson and other talent in bonuses after the first film, “Twilight,” scored big at the box office.
London-based Goldcrest's filing said that in a 2008 sub-distribution deal they put up $10 million for four films based on the Stephenie Meyer novels. The young adult franchise, which included five films that starred Stewart, Pattinson and Taylor Lautner, has brought in more than $3.3 billion worldwide.
The discrepancies between what Summit claimed it made and spent on the “Twilight” movies were uncovered, according to the plaintiffs’ filing, after it hired accounting firm Hacker Douglas to conduct an audit. Summit failed to cooperate and prevented a full audit, Goldcrest alleged in the suit.
Summit Entertainment had no immediate comment.
Pamela Chelin contributed to this report.