A venture capital and private-equity firm has sued Rizvi Traverse Management, alleging that Rizvi misled it about the commercial viability of the 2010 box office bomb Tekken. (Rizvi is the private-equity firm with multiple Hollywood investments: stakes in ICM, Playboy Enterprises, and Summit Entertainment.) Houston-based Small Ventures claims that Rizvi convinced it to invest more than $10M in the video game adaptation, falsely claiming that box office success was not critical because the money would be recouped from pre-sold foreign rights. Released in a handful of smaller foreign territories, Tekken has taken in less than $1 million. Rizvi co-founders John Giampatropni and Suhail Rizvi also were named in the suit, which was filed Tuesday in federal court in Houston, and seeks damages, restitution and legal fees. Small Ventures is represented by Gregory Casas of law firm Greenberg Trauring.
Venture Capital Firm Sues Rizvi Traverse, Claims It Was Taken On Indie Pic 'Tekken'
What's Hot on Deadline
'NCIS' Current & Former Cast & Crew Remember Gary Glasberg: "Our Rock, Our Cheerleader, Our Team Captain" - Update
Latest Film News
- UTA Vs. CAA Agent-Poaching Lawsuit: Judge Officially Hits Pause Button
- Ghost Story Pic ‘The Lodgers’ Sets Lead Cast As Production Begins In Ireland
- ‘Black Panther’ Finds Another Villain: Winston Duke To Play M’Baku/Man-Ape
- Nancy Pelosi To Host Congressional Screening Of Gun Violence Documentary
- ‘Angry Birds’ Helmer Clay Kaytis Aligned With Amblin’s ‘The Lunch Witch’
- Nancy Travis Cast In ‘Bernard And Huey’; Jonathan Baker To Co-Star In ‘Inconceivable’