Beatles Reunite to Sue Record Companies for $25M
Monday, August 28, 2006 at 2:59PM
The Beatles have reunited, though only to sue their record companies.
A lawsuit filed by the Beatles, their representatives and their recording label Apple Records against Capitol Records and EMI Records will go forward following a Manhattan judge's denial of a motion to dismiss.
Capitol and its affiliate EMI concealed their use of the band's recordings "in an effort to pocket millions of dollars" in royalties, according to the complaint. The plaintiffs are seeking at least $25 million, asserting causes of action for fraud, breach of contract and -- in a difficult and unusual claim against a record company -- breach of fiduciary duty.
The defense moved to dismiss the causes of action for fraud and breach of fiduciary duty, as well as the plaintiffs' requests for punitive damages and to reclaim the rights to their recordings, perhaps the most valuable catalog of music in existence.
Manhattan Supreme Court Justice Karla Moskowitz last week denied the defense's motion in its entirety.
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