Sly Stone has won millions of dollars of royalties in an LA court case

Sly Stone has won millions of dollars of royalties in an LA court case

Stone, 71, alleged his partners had withheld royalties from him for 20 years.

Iconic funk singer Sly Stone has won a court battle against his former management partners. According to Yahoo Music, the singer, whose real name is Sylvester Stewart, was awarded $5 million in damages after alleging he’d been denied royalties for over 20 years.

Stone, 71, headed up the group Sly and the Family Stone in the late 60’s and early 70’s, recording hit songs such as Everyday People, Dance to the Music, and Family Affair. After drug abuse problems, his financial affairs were in dire straits when he signed a deal with Even St Productions in 1989.

In 2010, Stone filed a suit in Los Angeles Superior Court, alleging that the company diverted his royalties, especially manager Gerald Goldstein and attorney Glen Stone, both of whom were named in the suit.   One of Stone’s attorneys, Nicholas Hornberger, argued in court that Goldstein and Stone funneled away royalties meant for Stone by shady accounting, using them to fund their lavish lifestyles.

The Globe Gazette reports that Goldstein and Stone argued in court that Stone did not hold up his end of the agreement, failing to record planned new music. They also alleged that there were no royalties to steal, as they had helped Stone pay off millions of dollars in debt to the IRS.

The Court, however, sided with Stone. Hornberger called it “an important day for people that are artists [and] music entertainers” who are victimized by those they trust to take care of their money.

Goldstein and Stone’s attorney Gregory Bodell said that they would be challenging the ruling. Even St. Productions filed for Chapter 11 Bankruptcy protection in 2013.

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