James Brown Estate Hit With $90 Million Catalog Deal Lawsuit by Pullman Group
Primary Wave is facing a lawsuit over their $90 million acquisition of James Brown's catalog and likeness rights, with The Pullman Group claiming breach of contract dating back to 1999.
James Brown singing in concert
Photo Credit: Heinrich Klaffs / CC by 2.0
The lawsuit, filed in Manhattan federal court on November 15, stems from a 1999 agreement between James Brown and The Pullman Group. This contract granted Pullman exclusive rights to refinance or sell Brown's assets, including music copyrights and royalties, until at least 2059.
The original deal involved a $26 million upfront payment to Brown through a Pullman Bond offering. The Pullman Group claims they maintained exclusive rights to arrange any future refinancing or asset sales following the bonds' recoupment.
According to the lawsuit, the Brown estate secretly sold the assets to Primary Wave for $90 million in December 2021, using Shot Tower Capital as intermediary. The Pullman Group argues this transaction violated their exclusive rights, which were registered with the U.S. Copyright Office.
The Pullman Group is seeking:
- 12.5% of the Primary Wave transaction value
- $250,000 in liquidated damages
- Contractual costs and legal fees
- Interest from the date of breach
- Additional compensatory and punitive damages against Primary Wave and Shot Tower Capital
The lawsuit alleges that both Primary Wave and Shot Tower Capital should have been aware of Pullman's existing exclusive rights before proceeding with the transaction.
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