Richards claims he is owed a $25 million (GBP13.1 million) share of the movie's profits - but has been snubbed by Miramax moguls the Weinsteins who claim the movie made a loss.
After waiting to give them the chance to resolve a dispute with Miramax's parent company, Richards has had enough and hired a lawyer to battle it out in court.
He tells Pagesix.com, "I waited long enough. I kept waiting until he got through his headaches with Disney. But Harvey got $100 million personally from Disney, and he owes me $25 million. I've been threatening. Now I'm doing. I'm suing the s**t out of him.
"His people said Chicago is $10 million in the red. I guess if I wait ten more years it'll be more like $36 million in the red. Not easy since the DVD income alone was $100 million, and the movie made almost $400 million, and he's still telling me it lost money?
"I'm going to demand a jury trial."29/06/2005 05:55