“We wish only the best for Bernard and all the other Rainforest shareholders,” Will Packer and Rob Hardy say in a joint statement to TheWrap
“Think Like a Man Too” producers Will Packer and Rob Hardy are being sued by a former business partner who owned approximately 33% of their company Rainforest Films, according to court documents obtained by TheWrap.
Bronner Brothers president/CEO Bernard Bronner invested more than $500,000 to help Packer and Hardy launch Rainforest, in addition to helping them raise more than $250,000 for the company. It was Bronner's initial investment in Rainforest's “Trois” that led to the company's continued success with box office hits such as “Stomp the Yard,” “Obsessed” and “Takers.”
The lawsuit alleges breaches of fiduciary duty, gross mismanagement, misappropriation of corporate assets, waste of corporate assets and abuse of control, as well as lack of candor and unjust enrichment.
Bronner claims that Packer and Hardy recently dissolved Rainforest without consulting him, and that he has yet to recoup his initial capital investment in the company. He also alleges that Packer used company funds for his personal use.
Additionally, Bronner claims Hardy and Packer shut him out of the company, which they claimed was making “little to no profit,” and gave themselves significant raises without notifying him.
Bronner is demanding a jury trial and seeking judgement against Packer and Hardy, as well punitive damages.
A hearing has not been scheduled at the time of this posting.
Hardy and Packer issued a joint statement thanking Bonner for his valuable support “at a key time for Rainforest,” saying they only wished the best for him and his Rainforest shareholders.
“When the emotionalism subsides, we hope Bernard will feel the same and realize that his frivolous course of action is personal, misguided and petty,” the duo said.
Here is the entire statement:
“The two of us have been friends for over 20 years and will continue to support each other personally and professionally. Our respective personal careers have taken us in different directions and we have decided it is necessary to dissolve Rainforest Films. Bernard was a valuable supporter at a key time for Rainforest, and we remain grateful for his assistance. We also understand his disappointment about the shareholders majority vote decision to dissolve Rainforest. We wish only the best for Bernard and all the other Rainforest shareholders. When the emotionalism subsides, we hope Bernard will feel the same and realize that his frivolous course of action is personal, misguided and petty.” –Rob Hardy & Will Packer
The lawsuit was first reported by eurweb.com.