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Sly Stone awarded $5 million in damages over unpaid royalties
By Andy Malt | Published on Thursday 29 January 2015
Sly Stone, real name Sylvester Stewart, has been awarded $5 million by the Los Angeles Superior Court after it was ruled that his former manager and lawyer had withheld royalties from him.
The musician filed his lawsuit in 2010, saying that manager Gerald Goldstein and attorney Glenn Stone had convinced him to sign an employment and shareholder agreement with Even Street Productions in 1989. Through this, he claimed, they then failed to pay him around $2.5 million in royalties, instead keeping the money for themselves.
The defendants argued that Stewart had been paid millions of dollars in royalties, and had renewed his agreement with them 40 times between 1994 and 2006. But he had, they said, broken the terms of his agreement by not delivering new music, and it was that which led to the dispute.
But, according to Variety, the jury sided with the musician and ordered Even Street to pay him $2.5 million in damages, while manager Goldstein and attorney Stone will have to pay
$2.45 million and $50,000 respectively.
