According to the New York Post, a former Goldman Sachs partner named Peter Comisar has filed a $50 million lawsuit against music executive Scooter Braun, alleging that the music entrepreneur failed to deliver on a promise of a key role in Braun’s new company if Comisar left his current employment.
While working for Guggenheim Securities, Comisar claims that Braun “aggressively courted” him from 2016 to 2017. Braun allegedly boasted about his list of talent and famous close friends in the hopes that Cosimar would jump ship and join him and business manager David Bolno in founding Scope Capital Partners.
According to the lawsuit, Bolno praised Braun, saying he was responsible for “reigniting Calvin Klein underwear through a campaign with Justin Bieber and developing the Yeezy brand for Kanye West.” According to Comisar, Braun informed him that getting close friends like Jimmy Iovine and David Geffen to invest in Scope might raise anywhere from $500 million to $700 million. Braun “personally executed contractual commitments to support the new endeavor,” according to Comisar, giving Scope an operating expense of $7 million per year for three years while earning a compensation of $3 million. Things took a turn for the worst when those billionaire investors failed to keep their half of the contract.
The truth was that Braun’s relatives regarded him as someone with whom they might associate but not entrust their millions, according to the lawsuit. “When it came to fundraising, Braun turned out to be a sheep in wolves clothing.” Comisar adds that he was threatened by Bolno, saying that if he pursued legal action over the breach of contract saying, “Braun would trash Comisar’s pristine reputation” and “ruin him financially.”
