Rainforest Films founders and Think Like A Man Too producers Will Packer and Rob Hardy have responded to the news that their former business partner at Rainforest Films, Bronner Bros., president and CEO Bernard Bronner, has filed a lawsuit against them for gross mismanagement, abuse of control and several other grievances.
Packer and Hardy acknowledged their friendship with Bronner, but dismissed the action he’s taken. Packer and Hardy announced that they are dissolving Rainforest Films in the wake of other business paths each man has taken.
“The two of us have been friends for over 20 years and will continue to support each other personally and professionally. Our respective personal careers have taken us in different directions and we have decided it is necessary to dissolve Rainforest Films,” Hardy and Packer said in a statement. “Bernard was a valuable supporter at a key time for Rainforest, and we remain grateful for his assistance. We also understand his disappointment about the shareholders majority vote decision to dissolve Rainforest. We wish only the best for Bernard and all the other Rainforest shareholders. When the emotionalism subsides, we hope Bernard will feel the same and realize that his frivolous course of action is personal, misguided and petty.”
Bronner is suing the filmmakers for breaches of fiduciary duty, gross mismanagement, misappropriation of corporate assets, waste of corporate assets and abuse of control. In the suit he alleges that he has earned “only a fraction of the initial amount that he invested in Rainforest (and the amounts solely raised from his personal business and social contacts)” despite the success of the Rainforest Films. Bronner initially invested $500,000 to start Rainforest with Packer and Hardy; and has raised more than $250,000 for the company.
HERE’S A LOOK AT THE OPENING OF THE SUIT:
