More than a year after terminating his contract with manager Cory Brennan, Dave Mustaine, the frontman of Megadeth, has reached a settlement agreement to pay Brennan over $1.4 million. However, Mustaine still faces a pending countersuit from Brennan.
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Brennan, along with his company, 5B Artist Management, filed a lawsuit against Mustaine in June of the previous year, claiming that Mustaine terminated their contract abruptly without providing a reason. The complaint, obtained by Rolling Stone, stated that 5B had been managing Megadeth since 2014, along with other heavy metal bands like Slipknot, Lamb of God, and King Diamond.
The complaint also suggested that Mustaine wanted his son to take over as his manager. It was alleged that Mustaine’s termination letter stated that 5B would not be entitled to any commissions from products released or contracts negotiated before the termination.
5B claimed that Mustaine owed them commissions for 10 tour dates by Megadeth, an additional 34 dates worked on before the termination, and for merchandise sales. The lawsuit also included a claim for $5,336.63 for Kentucky Derby tickets purchased by 5B for Mustaine and his wife.
On October 30, Mustaine agreed to settle with 5B by paying $1.4 million, including a personal payment of $35,000 to Brennan. Megadeth Inc. and associated companies will also contribute to the settlement to end the legal dispute.
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Attorney Howard King, representing 5B, criticized Mustaine for terminating the nine-year relationship with the management company. Despite the success achieved during their partnership, including a Grammy win and successful albums, Mustaine allegedly failed to pay owed commissions, leading to the lawsuit. However, Mustaine has now agreed to pay the $1.4 million in commissions.
Requests for comments from Mustaine, Megadeth, and 5B were not returned. Mustaine’s cross-complaint against 5B includes allegations of breach of contract, fiduciary duty, negligence, and other claims.
Mustaine and Megadeth are also seeking damages in their complaint against 5B, with the legal battle heading towards a trial.
FAQs
Q: What led to the legal dispute between Dave Mustaine and 5B Artist Management?
A: The dispute arose from Mustaine terminating his contract with 5B without providing a reason, leading to a lawsuit over owed commissions and other claims.
Q: What was the outcome of the settlement between Dave Mustaine and 5B Artist Management?
A: Mustaine agreed to pay over $1.4 million in commissions to 5B to resolve the legal dispute.
Q: What are Dave Mustaine and Megadeth seeking in their complaint against 5B?
A: They are seeking unspecified damages in addition to addressing breach of contract and fiduciary duty claims in their legal action.
Credit: www.rollingstone.com
