Warner Bros. has accused Hollywood producers Bob and Harvey Weinstein of 'trying to rewrite history' by suing for a share of profits from the Hobbit movies.
The ABC reports the Weinstein brothers have filed a lawsuit against New Line and Time Warner seeking $US75 million in damages, over their decision to split The Hobbit into three films, but pay the Weinsteins only for the first movie.
"This case is about greed and ingratitude," the Weinsteins said in the lawsuit, filed in New York, according to industry journal Variety.
The Weinsteins said they invested $US10 million in developing The Hobbit, when New Line acquired the rights in 1998 and agreed to pay 5% of the profits from the first film to the brothers.
But Warner Bros said in a statement that the Weinsteins, owners at the time of Miramax, had simply made a bad deal.
"This is about one of the great blunders in movie history," said a statement emailed to AFP by Warner Bros spokesman Paul McGuire.
Warner Bros say the Weinsteins were entitled to a share of the first movie, which made $US1 billion worldwide, but not to the two sequels.
"They agreed to be paid only on the first motion picture based on The Hobbit. And that's all they're owed," said the statement.
The Hobbit: The Desolation of Smaug, the second movie in the trilogy, is currently being released around the world.
The final part of the series is due for release in December 2014.