Wonderworld Studios Sues The Weinstein Company

"Shark Bait" aka "The Reef" starred Freddie Prinze Jr., Rob Schneider and Evan Rachel Wood in its voice cast

Wonderworld Studios has filed suit against The Weinstein Company, accusing the independent studio of violating its distribution deal for “Shark Bait," also known as "The Reef."

The animated movie starred Freddie Prinze Jr., Rob Schneider and Evan Rachel Wood in its voice cast.

Wonderworld claims that The Weinstein Company did not produce financial records related to film receipts — as stipulated in the contract — and that TWC also owes Wonderworld money.

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The plaintiffs are hoping the court will mandate a full accounting, reward Wonderworld what it is owed, as well as damages and any other payments the court sees fit to award it. A lawyer for Wonderworld did not immediately respond to multiple requests seeking comment. The Weinstein Company also did not respond to a request for comment.

“Wonderworld demanded that Weinstein Company account to Wonderworld for its full share of the Gross Receipts and pay amounts owed under the Agreement, and that Weinstein Company provide Wonderworld with overdue accounting statement,” the complaint reads. “As of the filing of this Complaint, Weinstein Company has failed to respond to Wonderworld’s demands.”

Based on the initial agreement, dated April 25, 2007, The Weinstein Company agreed to distribute “Shark Bait” in a number of territories and on digital platforms. It would give Wonderworld a $2.23 million advance that it would recoup against “gross receipts” from the film.

For certain receipts, Wonderworld would just get a 30 percent royalty. On others, it would get everything after a 25 percent distribution fee, recoupment of the guarantee and other costs.

The Weinstein Company would pay Wonderworld in installments and subject itself to quarterly audits.

The movie was released in certain international territories but went direct to DVD in the United States. Wonderworld claims that not only did The Weinstein Company not account for the most recent quarter – from December 31, 2011 to March 21, 2012 – but it also failed to pay monies owed for prior time periods.

Wonderworld commenced an audit in January and found that it did not receive its full share.

Pamela Chelin contributed to this report.