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BURBANK (CNS) - Companies previously associated with television creator and puppeteer Sid Krofft and his late brother Marty have filed a countersuit against Sid Krofft, alleging he violated the terms of a stock repurchase agreement.
In the underlying Burbank Superior Court suit, 94-year-old Sid Krofft contends he is owed nearly $500,000 as part of the May 2017 buyout. But in court papers filed Friday with Judge Frank Tavelman, attorneys for Krofft Entertainment Inc., Sid and Marty Krofft Pictures Corp., Sid and Marty Krofft Productions Inc. and SMK Productions Corp. allege contractual violations, misappropriation of trade secrets and unjust enrichment, and say Sid Krofft put his interests ahead of the companies.
Sid Krofft "breached the 2017 agreement in material ways and violated his duties and obligations to the Krofft companies even before the ink dried on the agreement," according to the countersuit, which further alleges the plaintiff used the Krofft companies' business relationships and assets to set up productions without rights, infringing on the exclusive ownership and control of the Krofft entities' assets, including copyrights and trademarks.
As a former officer/director, Sid Krofft had specific fiduciary duties to the Krofft firms that he breached by doing things that conflicted with the companies' interests, the countersuit states. Sid Krofft also used confidential company information for his personal gain, the countersuit further alleges.
Sid Krofft filed his suit in January 2023 against his brother and the Krofft companies. Marty Krofft passed away last Nov. 25 at age 86 and is survived by Sid Krofft and three daughters.
Sid Krofft seeks $470,000 in compensatory damages as well as punitive damages, plus a declaration of the rights of the parties and a court order allowing him to inspect corporate records of all funds received since May 2017.
But in their court papers, defense attorneys deny any liability on the part of their clients.
"The complaint is completely devoid as to any specific allegations against these individuals or what the basis of liability against them could be and they should be dismissed with prejudice," the defense lawyers argue.
Sid and Marty Krofft, both born in Montreal, made numerous children's television programs, mostly in the 1970s, including "H.R. Pufnstuf," "Land of the Lost" and "Sigmund and the Sea Monsters."