Pulse Evolution, the digital production firm that committed to create a life-like Elvis Presley hologram for a new Broadway musical about The King, has been ordered to pay producer Darren Bagert for breach of contract.
According to Forbes, Pulse Evolution has been ordered to pay $524,196 to Bagert (a co-producer on such shows as Dear Evan Hansen and An American in Paris) for not following through with the deal to develop the 90-minute musical.
The deal stipulated that Bagert create a budget for the musical, help secure investors, and assemble a creative team in return for advances against a production fee, a cut of net profits, and 200,000 shares of common stock.
Bagert fulfilled his duties; however, Pulse Evolution announced in March 2016 that it had entered a partnership with American Idol’s Simon Fuller to bring the Elvis musical to life.
Bagert remained attached to the project, but in October 2016, he took Pulse Evolution into arbitration over the matter. Pulse opted not to defend the case and was ordered to pay. Bagert then sued to enforce the arbitration award in federal court; Pulse Evolution again decided not to defend the matter.