The funk legend originally sued his former manager Gerald Goldstein and attorney Glenn Stone in 2010, claiming they stole royalties of his music.
- Jan 28, 2015
AceShowbiz - Sly Stone comes out as the winner in a lawsuit against his former manager and attorney whom he claimed stole royalties of his music. The funk legend was awarded $5 million by a Los Angeles jury on Tuesday, January 27.
The Los Angeles Superior Court announced its verdict after two days of deliberations. "It's a good day for Sly, it's a good day for entertainers in general," said Nicholas Hornberger, one of Stone's attorneys. "This was an important verdict for people that are artists, entertainers, music composers, etc."
Stone was the leader of Sly and the Family Stone. Together, they created a number of hits in the '60s and early '70s including "Dance to the Music" and "Everyday People". In 1989, Stone's then-manager Gerald Goldstein and attorney Glenn Stone convinced him to sign an employment and shareholder agreement with Even St. Productions, a company they ran.
Instead of receiving money, Stone found that the arrangement was used to divert millions in royalties. He was unable to get his own money, which was used by Goldstein and Glenn Stone to fund their own lavish lifestyles from 1989 to 2009. Stone then filed his suit in 2010.
Now, Even St. Productions Ltd must pay Stone $2.5 million. The musician will get another $2.45 million personally from Goldstein and $50,000 from Glenn Stone.
Gregory Bodell of Kozberg & Bodell, lead attorney for the defendants, has reacted to Stone's win. According to him, the singer was already paid in millions but he broke an agreement to make new records. He also denied his clients tricked Stone into signing the deal with Even St. Prods., saying the musician was aware of the terms and renewed the agreement 40 times over 15 years between 1994 and 2006.
