Sly Stone's $50M Royalty Suit Silenced By Calif. Court

Law360, Los Angeles (May 30, 2013, 8:38 PM EDT) -- A California appeals court Thursday rejected funk musician Sly Stone's bid to revive a lawsuit alleging Sony Music Entertainment helped his former manager cheat him out of $50 million in royalties, ruling that Stone agreed to a contract waiving his rights.

The court said that a 1989 contract arranged by his then-manager, Gerald Goldstein, clearly stated that Stone assigned his royalties derived from the Sony master recordings to a company Goldstein allegedly set up with the intention of paying Stone his royalty checks.

“[Stone] would have...
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