Elvis Presley Estate Sues Music Publisher for $5 Million
Elvis Presley Enterprises, which owns a 50% interest in the King's compositions, is suing music publisher Chrysalis Music Group, claiming as much as $5 million in owed royalty payments.
In a lawsuit filed last week in New York Supreme Court, EPE says that Chrysalis has breached an agreement by failing to properly collect, account for and pay it owed money. EPE says that Chrysalis has improperly "co-mingled" its funds with other accounts.
According to an audit that EPE conducted, the plaintiff identified "significant and troubling problems," including a lack of internal control and documentation, foreign withholding taxes that were allegedly improperly deducted without taking advantage of exemptions and reductions, and not ensuring that compositions were properly registered with performance rights organizations.
The complaint alleges that the parties have been in communication over the last five years about the alleged underpayments with no satisfactory resolution.
- Exclusive Portraits of Robert Griffin III, Ronda Rousey, Kareem Abdul-Jabbar (Photos)
- MOBA: Inside the Biggest Sporting Event You've Never Heard Of (Photos)
- 'Girls,' Tatiana Maslany and 18 More of the Biggest Emmy Snubs (Photos)
- Emmy Awards 2014: The Nominees (Photos)
- Hollywood's Notable Deaths of 2014 (Photos)
- Selena Gomez Stuns in Two Totally Different Looks at Leonardo DiCaprio's Foundation Gala
- Leonardo DiCaprio Brings Girlfriend Toni Garrn to His Foundation Gala, Raises $25 Million to Protect the Earth!
- Mariah Carey Supports Pal Brett Ratner at 'Hercules' Premiere!
- Gerard Butler Shows Off Chest Hair Touching Down at LAX!