Update: Scooter Braun is taking former Goldman Sachs partner Peter Comisar to court. HotNewHipHop was provided with court documents that show Braun wants “judicial intervention to end Peter’s unlawful, extortionate and opportunistic threats against him.”
The lawsuit further states that Comisar filed his $50 million suit against Braun as a shady business move. It was called “a transparent (and unsuccessful) threat by Comisar to derail Ithaca’s sale and thereby hold Braun and Ithaca hostage unless they cave into Comisar’s extortionate demands. Those tactics proved flawed, as Braun refuses to be extorted and the sale of Ithaca has already closed. Further, like Braun, HYBE sees Comisar’s baseless allegations for what they are: an attempt by a failure and opportunist to make a quick buck off someone else’s hard work.”
Braun denies Comisar's "baseless claims" and "seeks an order from this Court compelling Comisar to arbitration. That is clearly where Comisar’s meritless claims belong and an arbitrator will swiftly and definitely resolve them, leaving no further opportunity for Comisar to attempt to extort Braun."
The lawsuit calls Comisar an "opportunist" who couldn't fulfill his obligation to raise funds from even one investor.
Original Story:
He's been widely criticized for his dealings involving Taylor Sift's catalog, but Scooter Braun isn't making headlines over his rift with the popstar. The mega-manager is known for representing some of the top-selling artists in the music industry including Justin Bieber, Ariana Grande, and Demi Lovato, but he was back in the media on Wednesday (June 2) after news surfaced that the music executive has been hit with a $50 million lawsuit.
According to the New York Post, a former Goldman Sachs partner named Peter Comisar is taking Braun to court. He alleges that he left his job at Guggenheim Securities after Braun reportedly promised "him a role at the top of a new boutique investment firm that he claimed would be backed by media titans like Apple’s Jimmy Iovine, Hollywood magnate David Geffen as well as the billionaire Soros family." However, things didn't work out the way Comisar planned.
Braun reportedly lured Comisar into the business throughout 2016 and 2017, and Comisar was said to have agreed to a $3 million per year salary. Braun allegedly name-dropped Kanye West and Justin Bieber during their conversations, and according to Comsiar, Braun even went as far to say he could get David Geffen, who he reportedly called his "godfather," along with others like Jimmy Iovine and Haim Saban to invest hundreds of millions of dollars.
“Braun had to explain to Comisar, tail between his legs, how he had asked David Geffen, his supposed Godfather, to invest in Scope [Capital Partners], only to be told by Geffen that he did not view Braun as someone with whom Geffen would invest.” Iovine and Saban were said to have also given Braun “the same brush-off" along with "the Reuben Soros and Mittal families.”
“The truth was that Braun’s relations valued him as someone to socialize with, but to whom they could never and trust their millions,” the lawsuit reportedly states. “When it came to fundraising, Braun turned out to be a sheep in wolves clothing.” The New York Post reports that Braun has not commented on the allegations or the lawsuit.
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