Hillair Capital Management who put USD 10 million into Kim, Kourtney and Khloe’s makeup line Kardashian Beauty claims the famous siblings breach their contract by refusing to promote the line, reported Aceshowbiz.
The Kardashian sisters teamed up with Boldface to launch the makeup line in 2012. According to documents filed Monday, March 21 in LA, when former distributor Boldface faced financial issues, Hillair agreed to buy the makeup line and put USD 10 million into the venture.
But Kim, Kourtney and Khloe allegedly refused to promote and support the line and “began courting new potential investors to buy out Hillair’s stake.”
The suit concludes, “In short, the Kardashians wanted a better, more lucrative deal.” Now the investment company sues the famous siblings for more than USD 180 million for breach of contract, breach of covenant of good faith and fair dealing, breach of fiduciary duty, fraud and deceit, negligent misrepresentation and promissory estoppels.
The company also wants the USD 10 million they put as invested funds back. The Kardashians have not responded to the lawsuit yet.