Goldman Sachs, Joel Silver tentatively agree to settle lawsuit

The Hollywood producer claimed that the Wall Street bank had agreed to pay $30 million in exchange for a share of revenue from films made by a Warner Bros-based division of his Silver Pictures. THR, which has the story, picks it up from there:

After the lawsuit was filed, Goldman Sachs fired back at Silver, calling it "implausible" and "absurd." The investment bank filed a motion to dismiss the complaint, arguing, among other things, that any agreement with Goldman Sachs would have been extensively documented in writing. A judge later ruled against the investment bank's motion to dismiss. In 2011, Goldman Sachs hit Silver with counterclaims based on alleged representations by Silver's companies to make the deal happen. The producer was claimed to have "deliberately and fraudulently" overstated the anticipated performance of the 15 films in the Dark Castle slate.

No specifics on terms of the settlement, which has not been finalized. Entertainment attorney Bert Fields, who was representing Silver, told the Reporter that "I felt very strongly he had a good case; I am delighted we have settled."