Weinstein Company Buyer Lantern Capital Hit With $110M Fraud Suit By Producer Marvin Peart; Claims Race Was Why He Was Iced Out Of Deal
July 2, 2018 – ArticleProducer Marvin Peart hit the Dallas-based private equity firm with a $110 million lawsuit alleging he was excluded from the deal after bringing Lantern to the negotiating table. “Institutional racism” is being cited as part of the reason for Peart, who is African American, being dumped by Lantern.
With almost all the hallmarks of a classic double cross, the Mob Wives executive producer and his Marro Media shingle claim to have been promised more than $10 million by Lantern and a seat on the board of the acquired asset for bringing Lantern in as a minority investor in the original consortium bid led by Ron Burkle and Maria Contreras-Sweet.
“This lawsuit will shine an antiseptic light on Lantern and what happened to Marvin Peart at the hands of unscrupulous moneyed interests who cast him aside when they no longer needed him,” lawyer Pierce O’Donnell argues in the 10-claim complaint filed Monday in Los Angeles Superior Court. As well as putting a cash amount on the table, the suit citing “historical revisionism” seeks a jury trial and 10% of any future sale of what was once TWC by Lantern.