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The guitarist's brother Gerald says that the star passed away following medical complications which resulted in a heart failure.
The news of Alan's passing is shared by jazz musician Ralph Carney via his Facebook page, saying that the drummer lost a battle with cancer.
Titled 'Occupy This Album', the effort is put together by Jason Samel and will be released sometime in winter this year.
The band are set to make a cameo in the 100th episode of 'Futurama', featuring in an episode called 'The Mutants Are Revolting', where they become mutated following their campaign.
Plus, new footage from the movie has been previewed at WonderCon and the soundtrack listing has been unveiled.
The two had the 'best performance' of their time so far in the Lennon-McCartney week where almost everybody, including Tim Urban, received a compliment from the judges.
There also also Soundgarden, MGMT, Hot Chip, Cypress Hill and B.o.B performing at Chicago's Grant Park this summer.