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  1. #1
    Sinner's Swing! Jesus H Christ's Avatar
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    12.14.17 @ 01:21 AM
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    Default Sly Stone awarded millions in unpaid royalties

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



    http://variety.com/2015/biz/news/sly...ey-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.
    "The less I needed, the better I felt." ~ Charles Bukowski.

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  3. #2
    Atomic Punk Little Dreamer's Avatar
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    12.13.17 @ 10:58 PM
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    I can't understand how some of these industry ppl can sit happily in their big house, knowing it was paid by the talent of someone else.
    Little Dreamer

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  5. #3
    Atomic Punk CaboChris's Avatar
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    12.14.17 @ 12:13 AM
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    Quote Originally Posted by Little Dreamer View Post
    I can't understand how some of these industry ppl can sit happily in their big house, knowing it was paid by the talent of someone else.
    Idk, let's ask Michael Anthony.

    Ooooh, low blow...

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  7. #4
    Sinner's Swing! Heisenberg's Avatar
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    12.10.17 @ 09:09 PM
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    Default

    Winning a judgement is one thing collecting the money is another. Hopefully he gets it sometime soon. Sounds like the managers are going to appeal.

    I've noticed several celebrities have been wearing his T-shirt lately. One of my first records was Sly and the Family Stone.
    " On a scale that ranges from deep dark depression to rip roaring fun ... most people idle between pissed off ...and not too pissed off " DLR 1997

    " I am the danger ... I am the one who knocks " Walter White 2011

  8. #5
    Sinner's Swing! Jesus H Christ's Avatar
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    12.14.17 @ 01:21 AM
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    Sly is a legend. More influential than The Stones, Beatles and Led Zep combined.
    "The less I needed, the better I felt." ~ Charles Bukowski.

  9. #6
    Atomic Punk edwardv's Avatar
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    12.13.17 @ 03:35 PM
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    Quote Originally Posted by Heisenberg View Post
    Winning a judgement is one thing collecting the money is another. Hopefully he gets it sometime soon. Sounds like the managers are going to appeal.

    I've noticed several celebrities have been wearing his T-shirt lately. One of my first records was Sly and the Family Stone.
    I know someone who was involved in a royalties dispute with Ted Nugent and this is very true.
    Last edited by edwardv; 01.28.15 at 05:01 AM.
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  10. #7
    carpe damn diem billy007's Avatar
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    12.13.17 @ 07:40 PM
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    I hope he spends it wisely. Sad to hear some of the stories about him in recent years.

  11. #8
    Little Dreamer jmfranc's Avatar
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    03.24.17 @ 08:57 AM
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    Someday the record industry will get their heads out of the 50's and wake up

  12. #9
    Baluchitherium Harpospoke's Avatar
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    12.12.17 @ 10:04 AM
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    Default

    Quote Originally Posted by Jesus H Christ View Post
    Sly is a legend. More influential than The Stones, Beatles and Led Zep combined.
    Jesus christ!

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