Financier David Bergstein and Miramax owners Filmyard Holdings have reached an agreement today on their ongoing legal dispute. No details of the deal were made public, other than that Bergstein will dismiss the case he filed against the company and investors April 9. However, a source close to the arrangement tells Deadline that Bergstein will receive a “small amount of money in the deal.” The source added, “this is a full retraction by David and he holds no stake in the company.” Bergstein had claimed in the suit that he was owned 3.3% of the company and $6 million for putting the deal together in the first place. “I am pleased that I was able to sit down with my counterparties in this suit, discuss our differences and resolve them,” said Bergstein. “I fully retract the claims made in the lawsuit against Filmyard, Miramax, Colony Capital, Richard Nanula and Josh Grode. I’d like to thank everyone involved for their understanding and cooperation.”
Richard Nanula of Colony Capital, one of the owners of Filmyard said in a statement, “We want to recognize the contributions David made that ultimately led to Filmyard’s ownership of Miramax. Without his efforts this very successful transaction wouldn’t have happened.”
Bergstein filed another lawsuit against LA law firms Stroock & Stroock & Lavan and Levene Neale Bender Yoo & Brill on April 20 over his former lawyer Susan Tregub allegedly helping their clients against him. He is seeking at least $100 million in damages.