WRAP

Los Angeles

Panda Media alleges producers broke an agreement to pay 5 percent of the movie’s revenues

One of the financiers of Nicolas Cage‘s Rapture disaster movie alleges in a lawsuit that it’s being cheated by producers on a deal involving $18 million for prints and advertising.

Panda Media of Illinois is seeking $2 million in damages and an injunction barring the distribution of proceeds from the film, which opened Friday to scathing reviews, according to the Cook County Circuit Court lawsuit filed Friday.

Panda claims it reached an agreement in March 2013 to provide $18 million in exchange for 5 percent of the film’s revenues over seven years. But Panda alleges that the defendants instead “took for themselves, without any compensation being paid to plaintiff, the P and A commitment and used that commitment for their own benefit for the purpose of financing the production and distribution of the move from which defendants are expected to earn millions of dollars.”