Guggenheim Securities Sues Over Alleged $11 Million Contract Breach
Plaintiffs claim entertainment firm Falcon's Beyond Global–which designs and operates experiences for venues like theme parks, zoos, and museums–has failed to pay them anything following a successful merger.
March 28, 2024 at 05:21 PM
3 minute read
Investment bank Guggenheim Securities has filed suit against entertainment company Falcon's Beyond Global, claiming the company has failed to pay $11 million owed following a successful merger.
Plaintiffs claim the entertainment firm—which designs and operates experiences for venues like theme parks, zoos, and museums—breached various agreements when it allegedly failed to pay invoices for financial services.
Predecessor affiliates of Falcon's Beyond executed an agreement with Guggenheim in April 2021, the suit says. The agreement letter engaged the investment firm as lead financial advisor in connection with any merger or business combination, including special purpose acquisition companies, or SPAC.
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