Sky Stone wins $5 million royalty battle

February 2015



Sly Stone, the frontman of Sly & The Family Stone, who was left reportedly destitute after a contract and royalties dispute, with reports saying the singer living in a tiny van in Los Angeles. But now Variety reports that Stone has won an important law suit, with the singer awarded $5 million in misdirected royalties which resulted from a 1989 agreement when the singer allegedly handed over financial control to his manager Gerald Goldstein and Even St. Production. In his 2010 lawsuit the musician alleged 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. A jury has now ruled that Goldstein must pay $2.45 million, lawyer Glenn Stone (not related to the artist) the sukm of $50,000 and the company itself must pay damages $2.5 million.

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