January 29, 2010

Reclusive funk musician Sly Stone has filed a $50m legal claim against his former manager, alleging fraud and 20 years of stolen royalties.

The 66-year-old frontman of the 1970s group Sly and the Family Stone, claims Jerry Goldstein diverted millions in royalties to fund a lavish lifestyle.

He also claims Mr Goldstein registered the band's name with authorities as his own and used it borrow money.

Stone is best known for his hit songs Family Affair and Dance to the Music.

The musician - whose real name is Sylvester Stewart - has also asked the Los Angeles Superior Court for the full accounts from royalty collection companies to determine exactly how much had been taken from him.

'Unscrupulous people'

The legal papers said that Stone had been homeless at times and was currently living off benefits.

It added the musician depended on Mr Goldstein to handle his financial affairs and had paid Stone some money until 2007, but then stopped.

Stone's lawyer, Robert Allen said the legal action highlighted "a dark side of the music business where some of these artists are being robbed of their intellectual property and the fruits of their genius by unscrupulous people who prey on their trusting nature and lack of business and legal knowledge."

A representative for Mr Goldstein was not available for comment.

Sly and the Family Stone had hits throughout the 1960s and 1970s but the group fell apart because of heavy drug use and erratic behaviour among the band members.

After years out of the public eye, Stone gave his first live musical performance since 1987 at the 2006 Grammy awards in a tribute to the band, but left the stage before his song was over.


http://news.bbc.co.uk/2/h...486716.stm

How the hell is it going to take yo azz 30 plus years to realize that maybe you got ripped off?

And WTF is up with that shit on his head?

^
That's his new do. Are you feeling it?

Goldstein fu*ked up WAR as well.....

I like Sly's new do.

Identity said:

look like a gay rooster.

DesireeNevermind said:

I'm gonna keep the joke that came automatically to mind in my head

bboy87 said:

aw hell nah....you gozta share!!!

DesireeNevermind said:

How you cock a doo a doooooin'?

Lame.....that's why I was gonna keep it to myself

bboy87 said:

Yes.

Sly must have sobered up a bit to finally do this. I was mystified when he denied MJ's request to get back his catalog. Sly said he felt guilty he turned MJ's offer down.

ratchetchan said:

It'd be cute if it were on a shoe.

Timmy84 said:

Foreal?

Damn, so Michael tried to give Sly AND Little Richard their publishing back....
[Edited 1/29/10 17:31pm]

bboy87 said:

Yes.

According to BBC News, Sly was hopeful about negotiating a deal with Michael Jackson to obtain ownership of his publishing, but Michael's death precluded any possibility of an agreement.

woogiebear said:

Yeah he seems to be a shady character

oops! I didn't see this thread. I'll put my reply here and they can lock the one I started.

This is the same guy who cheated WAR out of their royalties and their name. I hope the SOB finally gets what he deserves...



http://www.billboard.com/...3543.story

Sly Stone Sues Ex-manager For $50 Million
by Jill Serjeant, Reuters | January 29, 2010 6:42 EST
Sly Stone has filed a $50 million lawsuit against his former manager, alleging fraud and 20 years of stolen royalties.

Stone, the frontman of Sly and the Family Stone, claimed that Jerry Goldstein had diverted an estimated $20-$30 million of royalties and used them to fund a lavish lifestyle.

Stone also claimed that Goldstein registered the name of the Sly and the Family Stone band with U.S. authorities as one owned by the Goldstein family, and used it borrow millions of dollars.

Goldstein could not immediately be reached for comment.

Stone's lawyer Robert J. Allen said the lawsuit highlighted "a dark side of the music business where some of these artists are being robbed of their intellectual property and the fruits of their genius by unscrupulous people who prey on their trusting nature and lack of business and legal knowledge."

The lawsuit filed in Los Angeles Superior Court on Jan. 28 seeks damages of $50 million and asks for a full accounting from royalty collection companies to determine exactly how much had been taken from him.

With hits like "Family Affair" and "Dance to the Music", Sly and the Family Stone was one of the biggest names in music in the late 1960s, appearing at Woodstock and paving the way for later artists such as Prince.

But the band fell apart in the 1970s because of heavy drug use and erratic behavior. After years out of the public eye, Stone gave his first live musical performance since 1987 at the 2006 Grammy awards, but left the stage before his song was over.

He has since made several brief appearances and was reported recently to be working on a new album for release sometime this year.

©2010 Billboard. All rights reserved.

SoulAlive said:

Exactly.

And just because Sly neglected to protect his rights doesn't mean it's okay for Goldstein to steal his life's work and profit from it. I wonder how many others besides Sly and WAR he has cheated?