Scooter Braun Hit With $200M Lawsuit Over Failed Private Equity Fund

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https://www.forbes.com/sites/legalentertainment/2021/06/04/scooter-braun-hit-with-200m-lawsuit-over-failed-private-equity-fund/

스쿠터 브라운은 논란에 휩싸였고(2019년 그는 테일러 스위프트의 음악 카탈로그를 놓고 정면으로 맞섰다), 현재 이 메가 매니저는 전 골드만 삭스GS +0.3%와 구겐하임 증권 임원 피터 코미사르로부터 2억 달러에 대한 소송을 당하고 있다.

Comisar의 고소장(사기, 신탁 의무 위반 및 계약 위반 주장)에는 2016년 Braun과 Bolno가 SCOPE 출시를 돕기 위해 그를 고용했다고 명시되어 있습니다. 코미사르에 따르면, 브라운은 지미 아이오빈(Jimmy Iovine), 데이비드 게펜(David Geffen, 그가 "대부"라고 불렀던), 하임 사반(Haim Saban)과 같은 "친한 친구들"로부터 5억 달러에서 7억 달러 사이의 돈을 모을 수 있다고 약속했다. 코미사르는 그것이 실패라고 말했다.

Scooter Braun is no stranger to controversy (in 2019 he went toe-to-toe with Taylor Swift over her music catalogue), and now the mega manager is being sued for $200M by former Goldman SachsGS +0.3% and Guggenheim Securities executive Peter Comisar, who teamed up with Braun and manager David Bolno to launch a private equity fund called SCOPE Capital Management.

Comisar’s complaint (claiming fraud, breach of fiduciary duty, and breach of contract) states that, in 2016, he was recruited by Braun and Bolno to help launch SCOPE. According to Comisar, Braun promised he could raise between $500 million and $700 million from “close friends” like Jimmy Iovine, David Geffen (who he called his “godfather”) and Haim Saban. Comisar said that was a failure.

“When it came to fundraising, Braun turned out to be a sheep in wolf’s clothing, ultimately admitting to Comisar that despite his bravado, asking people to invest made him ‘uncomfortable’ and he therefore refused to fully engage in the fundraising efforts. In other words, as Comisar ultimately found out when Braun pulled out entirely, Braun had never intended to be fully engaged as he had promised Comisar he would,” the complaint states. Comisar also alleges that Braun asked Comisar to “burn the bridges” with former employers as a condition of forming SCOPE.

Is there more to the failure than meets the eye? According to Comisar, in a perceived conflict of interest and what would be construed as bad faith, shortly after SCOPE was formed, Braun was making deals with private equity firm Carlyle GroupCG 0.0% to invest in Braun’s Ithaca Holdings, allowing Braun to make investments akin to the ones he would make at SCOPE. Comisar alleges that, around the same time, Braun and Bolno launched a campaign to disparage Comisar.

Braun, in a petition for arbitration that was filed almost immediately after being hit with Comisar’s complaint, thinks this is just a money grab due to the pending $1.05 billion sale of Ithaca to South Korean entertainment company HYBE. This is “a transparent (and unsuccessful) threat by Comisar to derail Ithaca’s sale and thereby hold Braun and Ithaca hostage unless they cave into Comisar’s extortionate demands. Those tactics proved flawed, as Braun refuses to be extorted and the sale of Ithaca has already closed. Further, like Braun, HYBE sees Comisar’s baseless allegations for what they are: an attempt by a failure and opportunist to make a quick buck off someone else’s hard work.” Braun says he initially funded SCOPE with $5 million plus $3 million for Comisar’s salary, which was squandered due to Comisar’s failures.