David Glasser Resolves Lawsuit Over Unpaid Debt
David Glasser, a well-known producer often referred to as the “third Weinstein brother,” has been making a name for himself post-Weinstein with his successful production company, 101 Studios. The company has been behind hit shows like “Yellowstone” and its various spinoffs.
However, Glasser recently found himself in financial trouble when Bob Yari, the producer of “Crash,” filed a lawsuit against him for nearly $1 million – the remaining balance of an unpaid personal debt.
After Variety brought attention to the issue, Glasser promptly paid off the debt the following day.
Yari’s lawyer, Behzad Nahai, stated on Wednesday that “The matter has been resolved. The full balance has been wired.”
According to the lawsuit, Yari had agreed to loan Glasser $1.5 million in January 2022, with a 6% annual interest rate. Despite the initial agreement for full repayment within a year, Glasser had not made any payments by April 2024, leaving him with a debt of $1.7 million.
After entering into a forbearance agreement, Glasser made some payments but failed to pay the full amount owed on the maturity date, resulting in a lawsuit from Yari for the remaining balance of $952,144.
Despite the legal dispute, Yari has since moved on to form a new company called Magenta Light Studios, which recently released the film “Bride Hard” starring Rebel Wilson. The company has also announced a joint venture with Evoke Entertainment and Freefall Films to produce and distribute indie films.
Glasser, on the other hand, continues to lead 101 Studios and has worked on successful projects with Taylor Sheridan such as “Yellowstone” and “Tulsa King.” Prior to his current role, Glasser served as the chief operating officer of the Weinstein Co., which filed for bankruptcy in 2018.
A spokesperson for 101 Studios addressed the issue, stating, “This matter has been settled and paid in full, and the fact that Mr. Yari wants to conduct business this way is very unfortunate. He lent money, and now he wants to call on it. That’s fine, we owe him nothing now and wish him all the best.”
