Sly Stone sues manager of twenty years

March 2010


Recording star Sly Stone filed a lawsuit in Los Angeles Superior Court Thursday, claiming that his former manager committed fraud and breach of contract for more than twenty years. The lawsuit also accused Jerry Goldstein of breach of fiduciary duty and conversion for diverting, converting and misappropriating Stone’s royalties and assets, and demands a full accounting from royalty collection companies to determine actual amounts taken, but they are estimated to be in the $20-30 million range. Robert J. Allan of Allan Law Group, who represents Stone, said in a statement. “Not satisfied with the royalties he diverted from Sly Stone, Goldstein, without Stone’s knowledge or consent, registered his trade name — Sly and the Family Stone — with the U.S. Patent and Trademark Office as owned by a Goldstein company and borrowed millions of dollars secured by Sly’s future royalties.”

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