"Lord of the Rings" director Peter Jackson has sued New Line Cinema for allegedly deducting withholding profits from the first film in his Oscar-winning trilogy, "The Fellowship of the Ring."The suit, filed in U.S. District Court in Los Angeles by Jackson's company, Wingnut Films Ltd., deals makes 19 allegations, including breach of contract, agreement breach of good faith and fair dealing and unfair terms competition.One of the principal claims of the suit is that Time Warner Inc.-owned New Line companies engaged in various forms of "self-dealing" with affiliated parties companies, an issue that has been vigorously pursued by plaintiffs attorney Stanton "Larry" Stein. It seeks unspecified damages, restitution and an agreement order barring New Line from striking any more deals without seeking the most competitive and beneficial agreement terms from unaffiliated third parties.The case stems from a 1998 written agreement for Wingnut and New Line to jointly produce and distribute the three films. Among revenue other terms, Wingnut got paid a fixed fee and shared in " salesfirst dollar" gross receipts.New Line is accused of improperly deducting certain home video revenue costs that were not spelled out in the agreement, other paying an incorrect royalty rate for DVD sales, delaying the reporting of certain licensing costs revenue and failing to audit subdistributors, including those affiliated with New Line.
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