Scooter Braun Facing $200 Million Lawsuit

Scooter Braun is hit with a fraud lawsuit over a private equity fund

Scooter Braun is the manager for the familiar names of Justin Bieber, Ariana Grande, Demi Lovato, and more. He most recently signed The Kid Laroi to his record label, Schoolboy Records.

Scooter Braun and Ariana Grande the One Love Manchester benefit concert, 2017

Peter Comisar, Vice Chairman of Investment Banking at Guggenheim Securities. In 2016, Braun attempted to recruit Comisar to join the private equity fund he was establishing. Before working for Guggenheim Securities, Comisar had spent two decades at Goldman Sachs. Comisar claims to have agreed on a three-year deal with Braun and the firm.

In April 2018, Comisar claimed that Braun all financial commitments and funding to the equity firm. This came after Braun reported the potential for raising $500-$700 million from billionaires within the entertainment community. A formal complaint states that Braun believed he did not need to be responsible for his contractual obligations because it was common for entertainment figures to dishonor these obligations.

Braun has pushed the lawsuit into arbitration. He alleges that the fault is not on him. Instead, he claims Comisar committed to raising $250 million for the equity fund startup, but failed to do so. Braun claims this was due to a lack of investors, which Comisar had failed to acquire.

“Braun turned out to be a sheep in wolf’s clothing”

It seems that as details of the case progress and become available to the public, that Braun and Comisar are at odds and believe that the other did not make his promised contribution to the startup fund. As a result, the arbitration of the $200 million lawsuit contains a series of name-calling, personal attacks, and arguments over financial and personal contributions.

Comisar is not the first employee of Scooter Braun to have complaints. Previously, Taylor Swift has made several statements regarding the poor treatment she received from Braun in her time working with him and how he prevented her from having access to the rights and sales of her music.

In conclusion, it seems that Braun’s behaviors amongst his employees are forming a pattern of lawsuits, complaints, and hot water. What will happen next?

Written By Hannah Botnick (IG: @hcbotnick)