Actress Zooey Deschanel has reportedly filed a breach of contract lawsuit against footwear firm boss Steve Madden for a reported $2 million.
In her petition, the actress – best known for her roles in 500 Days of Summer, Yes Man and Elf – claims that Steve Madden and herself signed an endorsement deal in August 2010.
This shoe endorsement contract was allegedly worth $2 million, but had to be renegotiated to $1.5 million after Madden reneged on the deal. At the time, it was claimed that the footwear firm was lacking in retailers to back the $2 million deal.
According to Deschanel’s legal filing, she alleges that the renegotiated $1.5 million was not paid to her by Madden, despite the actress holding up her end of the deal by refusing other contracts. In order to recover this payment, Deschanel is suing Madden for breach of contract without explanation, and is seeking $1.5 million from Madden, plus court costs and interest.
If the shoe company should lose this case in court, Madden will need to have a substantial professional indemnity insurance policy in place in order to cover the payout costs.