Sly Stone awarded millions in unpaid royalties

Discussion in 'The Howard Stern Show' started by God, Jan 27, 2015.

  1. God

    God Well-Known Member

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    Sly Stone Wins $5 Million Verdict in Lawsuit Against Former Manager and Attorney

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    http://variety.com/2015/biz/news/sl...ainst-former-manager-and-attorney-1201416654/

    Funk singer Sly Stone has been awarded $5 million by a Los Angeles jury in his lawsuit against a former manager and attorney he claimed diverted royalties from his music for their own benefit.

    The Los Angeles Superior Court announced its verdict on Tuesday, after two days of deliberations.

    Stone’s litigation, filed under his real name Sylvester Stewart, involved millions of dollars in royalties and stretched over almost five years.

    He filed suit in 2010, claiming that manager Gerald Goldstein and attorney Glenn Stone in the late 1980s induced him to sign an employment and shareholder agreement with Even Street Prods., but that they instead used the arrangement to divert millions in royalties, leaving him unable to get the money he said was due him.

    The jury awarded $2.5 million in damages against Even St. Productions, $2.45 million against Goldstein and $50,000 against attorney Glenn Stone.

    “It was a classic case of Hollywood accounting, but I guess it would have to be called record industry accounting,” said Nick Hornberger of Hornberger Law Corp., the lead attorney for the singer.

    The jury, he said, “sent a very clear message.”

    Gregory Bodell of Kozberg & Bodell, lead attorney for the defendants, said via e-mail that the jury found that Sly Stone was underpaid by $2.5 million under the employment agreement with Even St. Prods., and that the money was paid instead to Goldstein and Stone.

    “We are disappointed in the finding and believe it will be changed by further proceedings,” Bodell said.

    Stone, whose real name is Sylvester Stewart, testified that he had not received any royalty payments between 1989 and 2000.

    But attorneys for Goldstein and Glenn Stone contended that the singer was paid millions, but broke an agreement to make new records. They claim that the singer was not tricked into signing the contract, but was aware of the terms and renewed the agreement 40 times over 15 years between 1994 and 2006.


     
  2. Calloused Shins

    Calloused Shins Well-Known Member

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    Finally he can afford lotion for those ashy fucking hands. Goooo forrrr yoouuuu
     
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  3. dawg

    dawg In The Dog House Staff Member

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    didnt he sleep in a car several years?
     
  4. TheWonk

    TheWonk POTY Music Forum Gold

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    That's gonna buy him a whole lotta crack.
     
  5. ZevonFan

    ZevonFan VIP Extreme Gold

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    Sly was the man back in the day. All flashy and had brass in his band when the trend was pretty much guitars and drums. Just sayin', I loved the rhythm and jazzy feeling he gave us back then. In the Pleistocene era. Sigh!
     
  6. chapped

    chapped Well-Known Member

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    now if there was only a term that combined being a black dude and having allot of money to blow
     
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  7. wife is a whore

    wife is a whore Stripped of POTY for butthurting staff VIP

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  8. wife is a whore

    wife is a whore Stripped of POTY for butthurting staff VIP

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    Lever Rich.
     
  9. chapped

    chapped Well-Known Member

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    :up:
     
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  10. Senator Rick

    Senator Rick Well-Known Member

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    Love that guy.
    Hope he's able to buy Dylan's Malibu estate & gets that deviated septum fixed.
     
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  11. bobblebooey

    bobblebooey Well-Known Member VIP

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  12. wife is a whore

    wife is a whore Stripped of POTY for butthurting staff VIP

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  13. Caffeinated

    Caffeinated Well-Known Member

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    I read that too, living out of a van. I think his daughter (?) or some relative had placed him in a nursing home recently. Crack must be really wack. Sucks. What a talent. At least he's getting something back.
     
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  14. JesusTwinsBiggestFan

    JesusTwinsBiggestFan Well-Known Member

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    thats a lot of newports
     
  15. God

    God Well-Known Member

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    Sly is a legend. More influential than The Stones, Beatles and Led Zep combined.

    Here is Sly with The Family Stone this past Saturday...





    In Time
     
  16. Chicken Soda

    Chicken Soda Unknown Member

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    I first read this as Sly Stallone.

    "Music royalties..wtf? Did he make some dough with Frank?".
     
  17. tHISisKiSSeL

    tHISisKiSSeL ♡❂❁❀♡ Gold

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    I think the term you're referring to actually pertains to having a big stack of bills but they're all $ ones.
     
  18. JameGumb

    JameGumb We're all out of toner!

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    I so read that as "Sly Stalone" at first. :doh:Anyways whose the reggie?
     
  19. artful dodger

    artful dodger Well-Known Member

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    ya he ws livin in a van outfrnt of some ppls house in a residential neighborhood haha good 4 him
     
  20. Ipokesmot

    Ipokesmot Well-Known Member Banned User

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    And this is why you never hire a jewish lawyer, manager, doctor, etc...
     
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