Peter Comisar has filed a lawsuit against Scooter Braun for a failed attempt to start a new private equity fund

Peter Comisar

According to the suit, Braun requested that he “destroy the bridges” with his prior employment. SCOPE Capital Management was to be the name of the new fund. Scooter Braun is selling Ithaca Holdings to HYBE. However, according to Peter Comisar , in April 2018, Braun reneged on financial obligations and ceased funding everything, including Commissar’s salary.

“Bolno, utterly unrepentant, revealed to Comisar that Braun never actually imagined he’d have to perform and, boldly, informed him that ‘people in the entertainment sector don’t fulfil their contractual agreements,'” the suit claims.

Peter Comisar

“Bolno made it apparent that he and Braun believed Braun could renege on his pledges with impunity and no repercussions and that if Comisar chose to pursue Braun on his pledges, he would wreak havoc.”

Comisar claims he was threatened with a smear campaign that included wrongfully terminating his employment with Goldman Sachs, dereliction of duty by devoting time to advisory services, and racism as a pretext for his dismissal.

“Braun warned that this tale could end Comisar’s career,” the complaint says.

“The racism charge was completely false and based on nothing. Braun and Bolno’s nefarious intimidation scheme, which they devised in September 2018, failed. During the two-and-a-half years following the attempted smear, Comisar has remained a valuable Board member and steward of investors’ capital in this portfolio firm.”

According to Comisar, he went on to form STORY3 Capital Partners + Advisors, a merchant bank. Meanwhile, according to Comisar, Braun has failed to raise funds.”

None of Braun’s contacts was willing to commit any money, let alone the hundreds of millions Braun had promised. Braun had to explain to Comisar how he had requested David Geffen, his alleged godfather, to invest in SCOPE, only to be informed by Geffen that he did not consider his tail between his legs. Braun was turned down by all of his promised close relationship investors. The truth was that Braun’s relatives regarded him as someone with whom they might mingle but not entrust their millions.”

Comisar’s complaint includes allegations of fraud, breach of fiduciary duty, and contract breaches, as well as a demand for $200 million in damages “When it came to fund-raising, Braun revealed himself to be a wolf in sheep’s clothing, eventually admitting to Comisar that, despite his bravado, asking people to invest made him ‘uncomfortable,’ so he refused to participate in the fund-raising efforts fully. In other words, as Comisar discovered when Braun abruptly dissolved their relationship, Braun had never intended to be truly engaged as he had assured Comisar.”

“Mr. Braun has a history of trying to blame others for his failings,” Comisar’s attorney Joel Kozberg of Kozberg & Bodell told The Post on Thursday in response to Braun’s claim. It comes as no surprise to us that he behaves in this manner here.”

“Mr. Comisar has had a 30-year career operating under a code of honesty, the highest ethical standards, and unwavering dedication and support for his clients that have never been called into question,” he said, adding that Braun’s assertions will be proven “wrong.”