The Weinstein Co. is being sued for breaking contractual obligations regarding the distribution of The Founder.
FilmNation filed their charges in the Supreme Court of Manhattan, claiming their subsidiary Speedee Distribution, which had financed much of the films budget, had created an agreement with TWC not to release any film by the studio a week before or after the release of The Founder. The Weinstein Co. is being accused of releasing Gold (starring Matthew McConaughey) just a week after the release of The Founder. Both films are biopics with a similar target audience, creating dismay for FilmNation.
Speedee Distribution and FilmNation are suing for $15 million in damages as well as costs and interest. With the releases only 7 days apart from January 20th to January 27th, they believe TWC has breached their agreement.
“The Weinstein Company did not breach its contract and it will defend itself vigorously in court,” says attorney Evan Chesler in defense of TWC.
“In the event of a breach, the agreement required TWC to pay Speedee liquidated damages in the amount equal to the greater of … the amount TWC actually spent on any post-production Prints and Advertising (P&A) commitment, and $15,000,000. The $15,000,000 amount of liquidated damages was derived based on TWC’s obligation under the agreement to spend a minimum of $10,000,000 on P&A cost,” the suit states.
The Founder was filmed in Atlanta in 2016, and stars Michael Keaton and Nick Offerman.