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L'OREAL SUED FOR $100 MIL. BY FORMER JOINT VENTURE PARTNERS

This article was originally published in The Rose Sheet

Executive Summary

L'OREAL SUED FOR $100 MIL. BY FORMER JOINT VENTURE PARTNERS Jean and David Frydman in a complaint filed Feb. 2 in the New York State Supreme Court in New York County. The plaintiffs, who are brothers, were partners with L'Oreal in a film acquisition, production and distribution firm called Paravision. They claim to be victims of a conspiracy involving defendants L'Oreal S.A., its U.S. subsidiary Cosmair and other companies and individuals associated with the French firm to "comply with the illegal demands of the Arab League's boycott of Israel" in order to "secure the delisting of L'Oreal and its subsidiaries were placed on the Arab League's boycott list in February 1988 and were delisted in or around July 1989, the complaint says. L'Oreal became a target of the Arab League because of its acquisition of the Helena Rubinstein companies.
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