KHIKS, representing Peregrine Entertainment Capital, filed a complaint in early February against Main Street Films, producer of the upcoming film Barely Lethal, alleging breach of contract.
Pursuant to a written agreement, Peregrine claims it invested $1 million in the film with the understanding that it could sell half of its ownership interest back to Main Street for $500,000 within one year. Peregrine says it notified Main Street before the one-year deadline of its exercise of this right, but Main Street did not return the $500,000.
Read about it in The Hollywood Reporter, including a link to the complaint.
