Alliance Entertainment is suing Diamond Comics after terminating their purchase agreement to acquire the comics company’s assets last week. Previously, they had sued after Diamond chose to sell to the backup bidders, Universal Distributors and Ad Poplum, after first agreeing to sell to Alliance, but the suit was later dropped. Alliance writes in the new suit that Diamond has refused to pay back Alliance’s $8.5 million earnest money deposit. The suit also claims that Diamond “fraudulently misrepresented” their relationship with gaming manufacturer Wizards Of The Coast (WOTC), which they write is Diamond’s largest vendor, accounting for 25% of revenue. (They reported […]
