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Hillair Capital Management is claiming that shortly after it invested in the makeup line, which was struggling after its distributor folded in 2014, the sisters began looking for a new partner to buy out the Hillair stake, reports the New York Daily News. The suit lays this out bluntly:
In short: the Kardashians wanted a better, more lucrative deal than they had struck with Hillair after the money to continue the line was already committed, and they used their ability to withhold their support of the line to attempt to force Hillair into a buyout of its interest.
It further alleges that Khloe Kardashian publicly disparaged the products in the line, obviously bad for the investment.
Lawyers for the Kardashians shot back, claiming the suit “is an obvious attempt to create leverage by hedge fund operators who took over the Kardashians' cosmetics brand.”
Requests for comment from both Fielding and the Kardashians were not immediately returned.
The suit was filed in Los Angeles.
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