Creed Guitarist Nets $2.4M To Settle Suit Over Publishing Deal

Law360, New York (October 8, 2013, 5:09 PM EDT) -- Rock band Creed's Grammy Award-winning guitarist, Mark Tremonti, will receive $2.4 million to settle allegations he was cheated out of a larger stake in the publishing business of the band's record label, hours after jurors heard opening arguments in a Manhattan trial on Tuesday.

Tremonti had alleged that Wind Up Records Inc.'s late owner, Alan Meltzer, had promised him a 24.5 percent equity stake in some of Wind Up's music publishing subsidiaries in exchange for using the label's lesser-known bands as openers as Creed toured at...
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