Bethenny Frankel has apparently decided it’s better to pay than to play in the $100 million lawsuit filed against her by former manager Doug Wald over the sale of her Skinnygirl Cocktail brand of supposed lo-cal mixes.
Wald filed the lawsuit after Frankel allegedly cut him out of the sale, for which he would have been owed a commission, by firing him just before the deal was inked.
Although Frankel did nothing to deny that the price for the brand was around $120 million when it was reported in the tabloids at the time of the sale, the actual price for the mixes turned out to be much less.
It’s hard to tell just how much was at stake in the legal fight. Or how much Frankel forked over to settle the case. Wald claimed he was owed a 10 percent commission on the deal, plus he sued for $100 million in punitive damages, according to The Hollywood Reporter.
Wald claimed he helped made the introduction between Frankel and liquor industry veteran David Kanbar, which eventually led to the deal. Frankel sold the brand two years later. But Frankel fired Wald just days before signing th deal.
Terms of the settlement are confidential, according to The Reporter.
The mixes, which are popular with weight watchers came under scrutiny from Whole Foods because the supposedly “all natural” Skinnygirl margarita mix doesn’t reveal any its ingredients on the bottle.
Whole Foods, which has 310 health food mega-stores across the country, dumped the brand because of the cocktail mix’s lack of transparency.