Facts

SMC Entertainment Group Inc. sued Penguin Group (USA) Inc.

SMC is an entertainment and brand management company, and Penguin is a publishing house.

PLAINTIFF'S CONTENTIONS:
SMC claimed that in January 2012, it entered into an agreement with Penguin to market the "Ladybug Girl" brand. However, SMC claimed that despite successfully marketing the product, Penguin repudiated and breached its agreement. As a result, SMC lost substantial revenues.

SMC asserted causes of action for breach of oral contract, breach of implied contract, negligent misrepresentation, and unfair business practices.

DEFENDANT'S CONTENTIONS:
Penguin claimed that it entered into a deal memorandum with SMC, that stated it was not a contract and did not bind the parties.

Result

The court granted summary judgment in Penguin's favor on all claims, and dismissed SMC's suit with prejudice.