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Relativity's Ryan Kavanaugh, Film Financier Duke It Out In New Lawsuits
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25.07.2015
Relativity and a film finance company are feuding in a pair of lawsuits. Hardly a week since RKA Film Financing sued Ryan Kavanaugh for allegedly failing to pay millions of dollars owed, the company filed a second lawsuit against the Relativity CEO, accusing him of fraudulently mismanaging $75 million in funds from RKA. Then the same morning, Relativity filed its own lawsuit against RKA, claiming the company's litigation is a calculated bid to disrupt the embattled studio's negotiations with new investors. The company claims Kavanaugh raised money from RKA for the print and advertising (or distribution) costs of specific films, including the studio's delayed Masterminds and upcoming Solace, The Disappointments Room and Before I Wake, then diverted the funding into other company costs like salaries and personal expenses like helicopters for Kavanaugh. Relativity fired back in a lawsuit for $200 million, claiming in the complaint filed in New York state court RKA knew the loans entered into a general account not required for spending on specific films.
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