LOS ANGELES (CN) – Hollywood power couple Will Smith and Jada Pinkett-Smith have filed a complaint in Superior Court to head off a threatened lawsuit by a Philadelphia tycoon who bankrolled Pinkett-Smith’s straight-to-video indie film, “Human Contract.”
The couple filed the complaint Friday against David Grasso, a Philadelphia real estate tycoon who invested an unspecified amount in “Human Contract” through his company, Tycoon Entertainment, after Grasso threatened to sue for fraud unless he got his investment back.
Pinkett-Smith wrote and directed the movie.
“(I)t became clear after the film was completed that the Tycoon defendants were unlikely to recoup their investment,” the lawsuit says. The couple says that’s when “Grasso decided to play the ‘blame game’ and now threatens to file suit.”
The couple says Grasso is “claiming without any basis that they convinced him he had no risk and guaranteed him a return on his investment” when “plaintiffs, of course, made no such representations nor is it conceivable that an experienced, well-represented real estate mogul like Grasso would believe such promises.”
The couple seeks a declaratory judgment that have done nothing wrong and are not liable for Tycoon’s losses.
Named plaintiffs include 100 Percent Womon Film Investments Inc., Pinkett-Smith’s company, and Overbrook Entertainment.
The couple is represented by Allen Grodsky with Grodsky Olecki.