A strange lawsuit has recently been filed by Chinese ticketing platform Weying Galaxy in Los Angeles against The H Collective, otherwise known as THC. Reportedly, around 2017, Weying was interested in buying the rights to the xXx IP, which originally starred Vin Diesel, in order to make new films in the action franchise. In order to do so, they partnered with THC in order to make the deal happen, but are now claiming that THC has failed to live up to their end of the bargain, and may have been lying from the beginning.
The details are complicated but the issue can be summed up in a few points. Essentially, THC came to Weying suggesting that they had an agreement with Revolution Studios to buy the rights to xXx at their discretion. Together, the two companies put up over $8 million dollars in order to acquire the rights. Weying put up $6 million, and THC put up $2 million, less than half of what they were expected to, according to Weying.
This is where the story gets juicy however. The legal complaint alleges that THC did not actually acquire the rights to the franchise, and in fact never had the ability to do so. While THC claimed to be able to acquire 100 percent of the xXx franchise, they only ever had the option to purchase 50 percent of the rights. Not only that, but in order to acquire that 50 percent, the company required the authorization of Vin Diesel, and such approval had never been granted. This of course, became a problem when it came time to move forward with the deal, and Weying discovered that they didn’t actually have the rights.
All of this has led to Weying filing suit against THC in LA in the hopes of recovering some of their investment. They have also accused THC of mishandling funds for xXx 4, failing to provide over $40 million dollars to Xtreme Picture, the company that Weying had hoped would work on the fourth film in the franchise. In response, THC released a short statement saying: “As The H Collective and its affiliated companies has neither been served with or notified of any legal action, we can’t comment any further. However, we will defend ourself vigorously against any lawsuit filed by Weying Galaxy, Inc. and strongly deny these allegations.”
Source: The Hollywood Reporter
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