Rainforest Producers Will Packer and Rob Hardy Sued for Abuse of Control, Closes Doors [UPDATE]
Rainforest Producers Will Packer and Rob Hardy Sued for Abuse of Control
UPDATE on July 4, 2014:
Amidst the recent lawsuit against filmmakers and producers Rob Hardy and Will Packer, they have decided to close their doors. This was the statement recently given:
“The two of us have been friends for over 20 years and will continue to support each other personally and professionally,” Hardy and Packer said in a statement to The Hollywood Reporter. “Our respective personal careers have taken us in different directions, and we have decided it is necessary to dissolve Rainforest Films.”
The split is, obviously, one of the causes of a lawsuit filed by Rainforest shareholder Bernard Bronner on the same day Think Like a Man Too hit theaters.
Bronner, the publisher of Upscale magazine and the president and CEO of hair- and skincare company Bronner Bros., claims that despite his seat on Rainforest’s board of directors and his owning about a third of the company, Hardy and Packer voted to shutter it without consulting him. He also alleges that they withheld profits and financial information from him.
He is suing Packer, Hardy, Rainforest-affiliated TRF Productions LLC and Rainforest Productions as a nominal defendant for breach of fiduciary duty, misappropriation and waste of corporate assets, gross mismanagement, and abuses of control.
Original post from June 26, 2014:
As we know, “Think Like a Man Too“ may have scored well as the number one movie at the box office, but the film’s producers are attracting a different kind of attention.
EURweb obtained documents that show a lawsuit filed Friday against Rainforest Films by Bernard Brothers president and CEO Bernard Bronner. The businessman is suing Will Packer along with Robert Hardy, II and TRF Productions, LLC for inter alia, breaches of fiduciary duty, gross mismanagement, misappropriation of corporate assets, waste of corporate assets and abuse of control.
Bronner, who invested more than $500,000 to start Rainforest with Packer and Hardy as well as raised more than $250,000 for the company, claims to have received “only a fraction of the initial amount that he invested in Rainforest (and the amounts solely raised from his personal business and social contacts)” despite the fact that Hardy and Packer have made “millions of dollars” from the success of the company.
The trio’s business relationship dates back to the year 2000 independent film “Trois.” Bronner invested more than $500,000 in the film in exchange for a return on his investment and “a profit” based on “Trois’” performance at the box office. “Trois” ultimately became the film that put Rainforest on the map as it grossed more than $1,200,000.00 in box office receipts and became the fastest African-American distributed film to surpass the $1 million mark.
Wow, these guys are making some serious money but business has to always come first and done correctly for all parties to be rectified. We hope things are made right.