 Mark Burnett: Sued by former partner
Mark Burnett, the famous producer of television shows, has been prosecuted for 70 million dollars by a former business partner Conrad Riggs. The charge of refusal to pay partner’s share of profit has been brought against Burnett. To be specific violation of oral contract, breach of fiduciary duty and also infringement of a partnership agreement were incorporated in the lawsuit.
Reporters have thrown more light on Mark Burnett’s news. In the lawsuit filed in Superior Court in Los Angeles on Monday Riggs claimed that forty seven year old Burnett has agreed to pay him ten percent of future profits in a deal. The aforesaid deal was struck when Burnett, a former British military officer has just entered in the glamorous world of television.
"As Burnett has acknowledged on several occasions, the significant contributions made by Burnett's business partner, Conrad Riggs, played a critical role in the success of their enterprise." These were the words being quoted in the lawsuit.
The suit was filed at a time when Mark Burnett was planning to sell his company. Riggs has accused his former partner of seeking to squeeze him out of the profits of any sale.
"We think the lawsuit is unfortunate and without merit and we expect to prevail," added Steve Marenberg, Mark Burnett’s attorney.
When they started working together, Riggs has got involved into business affairs executive at the Walt Disney Company and Burnett tapped him for his experience. The two struck an oral agreement to work together.
Riggs has brought out the claim that he also helped Burnett assemble the creative staff for launching “The Apprentice" while Burnett was busy on the project of "Survivor."
Mark Burnett had been paying Riggs and his company, Cloudbreak Entertainment Inc, 10 percent of profits from his media enterprise until February 2007. However in recent months he has sought to alter the profit-sharing deal.
Burnett has won an Emmy Award for the hit CBS show titled "Survivor," that began in the year 2000. The show takes contestants to beautiful locations around the world where they compete in various challenges. |
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