Burkle's Yucaipa Companies alleges sharing confidential information before being deprived of an opportunity to invest.
Billionaire Ron Burkle gets to move forward in his lawsuit alleging being defrauded in the $289 million sale of The Weinstein Co. assets. On Thursday, a Los Angeles Superior Court judge rejected a bid to nix fraud claims brought by Burkle's Yucaipa Companies.Burkle once attempted to buy TWC's assets outside of bankruptcy, but certain events intervened.
Yucaipa says that in return for providing all this to Lantern, Burkle's company was contractually promised two percent of the purchase price as well as the opportunity to invest in Lantern's entertainment investment vehicle up to $50 million. Yucaipa also alleges that it was promised reimbursement of its fees and expenses.
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