Velvet Underground Drumming Out Deal In Banana Art Suit

Law360, New York (March 29, 2013, 6:21 PM EDT) -- The Velvet Underground is nearing a settlement in a dispute over licensing rights to an iconic Andy Warhol illustration of a banana, a lawyer for the rock band said Friday.

The band's legal team has reached agreement on a rough settlement with the Andy Warhol Foundation for the Visual Arts, a lawyer for the 1960s rock group told U.S. District Judge Alison Nathan at a hearing in Manhattan. The two sides are sparring over whether the Warhol foundation or band owns the rights to a banana...
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