Goldman Defeats Hollywood Managers’ Suit Over $7 Billion Deal

Goldman Sachs Group Inc.won dismissal of a Hollywood management firm’s lawsuit claiming it was misled about a $7 billion private equity deal that allegedly spoiled the market for its own bid to be acquired.

A New York judge ruled Wednesday that KSFB Management had brought flawed fraud and contract claims against Goldman based on misinterpretations of its agreement with the bank. According to Variety, KSFB’s principals have managed business affairs for celebrities including Beyonce, Drake and Adam Levine.

The suit KSFB filed last year stemmed from a complex series of transactions. The firm’s principals were previously ...