UPDATE: In a shocking turn of events, Broadway investor James L. Walker Jr. has filed a lawsuit against the producers of the hit musical ‘Cabaret’, demanding answers about unpaid profits despite the show grossing nearly $100 million. The lawsuit, filed in Manhattan Supreme Court, raises serious allegations of financial misconduct and a potential cover-up.
Walker, who contributed to the $25 million funding for the production, claims he and other investors have not received any profits since the show debuted in April 2024, featuring stars like Eddie Redmayne and Adam Lambert. The musical is set to close on September 21, 2024. Walker states, “They’ve told us repeatedly they made no money so we’ll get nothing,” pointing to a troubling pattern of silence from producers regarding the financial status of the production.
The suit alleges that producers have not provided access to crucial partnership records and financial documents, leading Walker to accuse them of running “a deliberate scheme intended to strip him and others” of their rightful investments. “Sometimes the little guy has to stand up and fight,” he declared.
Producers of ‘Cabaret’ have responded to the allegations, asserting that the show is not “in a position fiscally to make any distribution to investors,” denying any claims of wrongdoing.
In a related issue, approximately 35 crew members from the film ‘People Not Places’, starring Shirley MacLaine, are also embroiled in a financial dispute. They secured a judgment of nearly $673,000 against principal financier Jeff Katz, who admitted to the judgment but has reportedly refused to pay, stating, “They can’t enforce a judgment against me.”
The crew members, some of whom lost their homes and health insurance during the pandemic, claim they worked tirelessly only to be dismissed when the film was abruptly canceled. “We were all sent home and told the movie was canceled,” said assistant director Dave Wechsler. The situation highlights the ongoing struggles faced by many in the entertainment industry as production budgets tighten and financial transparency erodes.
As the Broadway and film industries grapple with these financial disputes, the implications for investors and crews alike are profound. The unfolding legal battles could set a precedent for how productions handle investor relations and transparency moving forward.
Stay tuned for further updates on this developing story as it continues to impact the entertainment landscape.