Former Verve CEO Bill Weinstein Sues Talent Agency Over His Ouster, Claims Partners Plan to Sell Company
variety.comCynthia Littleton Business Editor Former Verve CEO Bill Weinstein has filed a lawsuit against the talent agency, alleging that he was improperly ousted from the company on Feb.
19 by two partners who are looking to sell the company. Weinstein’s suit, filed Thursday in Los Angeles Superior Court, accuses Verve partners Bryan Besser and Adam Levine of “a misguided coup attempt” in violation of agency’s charter agreement with the steps the two took earlier this month to fire Weinstein for cause.
The complaint asserts that Besser and Levine’s goal is to sell the agency and deny Weinstein his share of the proceeds. According to the complaint, Weinstein owns 25% of Verve, which was founded in 2009 by Weinstein, Besser and Levine. “Levine’s and Besser’s conduct was and is egregious, malicious, violative of the Operating Agreement and the fiduciary and other duties they owe to Weinstein and are therefore actionable,” the complaint states. “With Weinstein now safely out of the picture, Levine and Besser are looking to sell Verve without Weinstein’s participation and with no intention of cutting him in on the sale proceeds in spite of the fact that he owns over 25% of Verve.” A spokeswoman for Verve did not immediately respond to a request for comment.
The complaint details steps taken by Besser and Levine that violated Verve’s rules around holding board meetings and making termination decisions.
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