A3 Artists Agency, a talent representation business whose majority owner Adam Bold was recently sued by his partners, will cease operations next week, multiple sources told Variety.
The shop — which counts clients like Lorraine Bracco and Anthony Michael Hall, and represented late stars like Carl Weathers and Angus Cloud — will shut down at close of business on Monday, per a memo obtained by Variety and written by A3 chief operating officer Todd Quinn. Employees will be issued final paychecks on Feb. 12 and benefits like healthcare will be extended for a brief time.
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“This decision was not made lightly and comes after extensive analysis. Despite our best efforts, we find ourselves unable to continue operating in a sustainable manner,” the memo read.
Representatives for A3 did not immediately respond to requests for comment.
In December, agency CEO Robert Atterman and president Brian Cho filed an explosive lawsuit against Bold, accusing the self-made millionaire of running the business into the ground and habitual drug use and sexual harassment.
“In an astonishing run of terror, Bold has squandered everything,” the December suit said. “A3 is in a state of chaos and dissolution as its agents jump off the sinking ship and flee to A3 competitors, or wait in shock and fear for the next shoe to drop.”
At the time, Bold called the lawsuit a “shake down and pure extortion. All of the allegations about drug use and sexual misconduct are completely false and I have evidence to prove it.”
The legal dust up came just as Bold was closing a transaction to sell off A3’s digital representation assets to rival agency Gersh. Insiders said Atterman and Cho are considering forming a new representation company amidst their ongoing conflict with Bold.
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