For the second time in less than a year, KHIKS partner Jeremiah Reynolds, on behalf of Filmula Entertainment’s founder/producer Johnny Lin, filed suit against Trauma 2 Records and related entities controlled by media mogul Frederick “Ted” Field.
Both lawsuits concern the $1.5 million in seed capital Lin invested in Trauma 2 in 2012. The first suit alleged Trauma 2 failed to return Lin’s investment and never appointed him to the board of directors, both conditions of the parties’ agreement. That case settled with Trauma 2 agreeing to repay Lin’s investment plus additional compensation.
After the first monthly payment arrived more than a month late in January 2015, Lin has yet to receive the second payment. This time he’s not waiting around. He filed the second lawsuit just a few days ago to try once again to get his money back.
See the full story in The Hollywood Reporter.
