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Legendary Pictures Settles Lawsuit With Godzilla Producers

Legendary Pictures has reached a settlement with former Godzilla producers Dan Lin, Roy Lee, and Doug Davison on Thursday, ending the legal dispute that began in January 2013.

The dispute began when Legendary Pictures let go of the producers with a $25,000 payout. Legendary Pictures claimed that the amount was all the three producers were owed under the March 2011 Producer Loan Agreement between them and Legendary. The three producers filed a counterclaim for breach of oral contract and asserted that the studio committed promissory fraud for not giving them agreed-upon compensation.

Legendary asserted that an arbitration clause in the 2011 draft contract states that any lawsuits will be handled in private court. However, the former producers asserted that the contract was never signed. The latest move in the lawsuit came in March when Legendary Pictures' request to keep the dispute in private arbitration was denied in the California Appeals Court.

In their cross-complaint, the former producers sought US$25,000 developmental fee, fixed compensation of $1.3 million, and three percent of the first-dollar gross receipts of the film based on alleged oral agreements made with Legendary Pictures.

The trial was originally scheduled to begin in the Los Angeles Superior Court on July 7.

The details of the settlement remain unknown.

The Gareth Edwards-helmed Godzilla movie premiered in North America on May 16, and has earned a box office gross of US$528.7 million worldwide.

Thanks to Daniel Zelter for the news tip

Sources: The Hollywood Reporter, Variety