Back in July, it was confirmed that Amazon Studios, MGM and filmmakerKevin Smithwere finalizing their deal for a newBuckaroo Banzai TV show, based on the 1984 cult classic movieThe Adventures of Buckaroo Banzai Across the 8th Dimension. Today we have word that those plans have been derailed, withKevin Smithparting ways with the project shortly after news surfaced that MGM was suing originalBuckaroo BanzaiscreenwriterEric Mac Rauchand directorW.D. Richter, over the rights to the project. Here’s an excerpt from the lawsuit that was filed last week by MGM in a U.S. District Court.

“There is now a substantial controversy between the parties with great immediacy. MGM seeks to develop its newtelevision serieswithout Defendants' interference. Accordingly, Plaintiffs bring this action to seek a declaration of the rights and legal relations of the parties with regard to Buckaroo Banzai.”

The Hollywood Reporterfirst reported on the lawsuit earlier today, which promptedKevin Smithto respond in an 18-minute Facebook Live video, where the filmmaker revealed that he is backing out of the project. BothEric Mac RauchandW.D. Richterhave asserted that they own the rights to the property, claims MGM denies, but while the studio wants to make the series without “interference” from the original filmmakers,Kevin Smithrevealed in his Facebook Live video that he wanted to have them involved in the series.

“When I got the job, if you go back and look on my Instagram feed, I went, ‘I can’t wait to do this. I want to involveEarl Mac RauchandW.D. Richter. I gave interviews where I talked about gettingEarlwriting a script andW.D.to direct an episode, because I was going to direct all of the episodes. Without those two dudes, I don’t fall in love with that property. I don’t want to make anything unless those two dudes are involved. They had the vision. Like, all we’re doing is taking their amazing vision and making a TV show of it. With all due respect, this sucks. This sucks so hard, because we had script orders and stuff like that. I can’t, I’m not that guy. Let me put it in terms that I perceived it as. Let’s say one day that the people that own Miramax now [said], ‘Hey, we want to makeClerks. And I’m like, ‘Well, I don’t want you to make Clerks - not while I’m alive.’ And then they sue me to verify that they can make Clerks without me being involved. Well, what goes around comes around in life. I’m not saying anybody is wrong in this situation, but what I’m saying is - respectfully to all parties involved - I’m out. I wanted those dudes involved in the show. This didn’t exist when we made the deal, and now it does.”

Kevin Smithfirst revealed that this show might happen on hisHollywood Babble-Onpodcast, where he revealed that MGM approached him about making the show after he directed an episode ofThe Flash. The original movie followed the title character, played byPeter Weller, an adventurer/surgeon/rock star, who takes on evil alien invaders from the 8th dimension alongside his band of men, the Hong Kong Cavaliers. The movie also starredJohn Lithgow,Ellen Barkin,Jeff GoldblumandChristopher Lloyd. While it only made $6.2 million during its theatrical run, it became a cult classic in the years that followed. Here’s whatKevin Smithhad to say in another excerpt from his 18-minute video.

“This is not what I signed up for. I was caught off-guard [by the lawsuit]. I literally had no idea. It blows, man, because that’s the closest I’ve [come] to having my own show so far. I’m no longer involved. I don’t wish anybody harm. I wish all parties well. I hope these dudes come to an agreement, and if they do and they still want me involved down the road, I’ll be here. But why would they?”

It remains to be seen how long thislawsuitwill be drawn out for, or if there remains any chance that this show could actually happen now, either with or withoutKevin Smith. It also isn’t known ifKevin Smithhad started working on theBuckaroo Banzaiscripts yet before this lawsuit was filed, and before he dropped out of the project. Take a look at the filmmaker’s 18-minute Facebook Live video below.