Amid the fallout of Pollen, the destination events company is now facing a class action lawsuit from former employees, Digital Music News reports. Pollen recently went into administration in the U.K. after receiving droves of complaints from consumers, many of whom allege the company failed to issue refunds for events that had been canceled. The company also drew the ire of a number of its partners, like Drumcode Malta, whose organizers said Pollen’s highly publicized struggles forced them to pull the plug on the festival. As the news circulated, Pollen released a statement attributing its pitfalls to a number of factors, including COVID-19 restrictions and a global economic downtick. The statement arrived days after Live Nation released its Q2 financials, reporting $4.43 billion in ...
The Securities and Exchange Commission (SEC) has charged 11 individuals for their alleged role in the creation of a “fraudulent crypto pyramid scheme” platform Forsage. The charges were laid in a United States District Court in Illinois on August 1, with the SEC alleging that the founders and promoters of the platform used the “fraudulent crypto pyramid and Ponzi scheme” to raise more than $300 million from “millions of retail investors worldwide.” The SEC complaint states that Forsage was modeled such that investors would be financially rewarded by recruiting new investors to the platform in a “typical Ponzi structure,” which spanned multiple countries including the United States and Russia. According to the SEC, a Ponzi scheme is an investment fraud th...
Legendary house music artist Marshall Jefferson has launched a lawsuit against Kanye West on the basis of alleged copyright infringement. The complaint, filed in New York’s U.S. District Court, alleges West sampled Jefferson’s 1986 song “Move Your Body” without licensed permission. After producing under the alias Virgo, it was the first track of Jefferson’s career he had released under his own name. Billboard reports the lawsuit claims West sampled Jefferson’s song 22 times in “Flowers,” a single from his 11th studio album, Donda 2, which released in February 2022. Unlike its predecessor, Donda 2 was released exclusively on West’s own Stem Player platform. The lawsuit notes that West earned a reported $2.2 million in physical Stem P...
Four Tet has come out on the winning end of a legal battle against his label after around a year of litigation. The tenured electronic music producer brought a legal claim against his record label, Domino, alleging the organization had only paid him 18% of the royalty share for his music instead of the 50% rate promised in his contract. Signed in 2001, Four Tet’s agreement with Domino yielded multiple acclaimed albums, including Pause, Rounds and Everything Ecstatic. The ugly battle led to Domino temporarily removing the albums from streaming services per their legal guidance, though the music has since been restored. In filing the suit, Four Tet sought £70,000 in backpay from Domino. Scroll to Continue Recommended Articles Now, Four Tet has announced that he’ll be r...
Billionaire Elon Musk, along with his companies SpaceX and Tesla Inc, are all being sued for an astonishing $258 billion in damages for being “engaged in a crypto pyramid scheme” involving Dogecoin (DOGE). The damages sought are more than 34 times Dogecoin’s current market cap of $7.5 billion and nearly three times its ATH market cap of $88.68 billion in mid-2021. Filed in the New York District Court by an attorney at Evan Spencer Law on Thursday, the class-action lawsuit alleges that Musk “used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure, and amusement.” In the filing, plaintiff Keith Johnson, a U.S. citizen, alleges that Musk and his corporations were “unjustly enriched” by $86 billion as a result of wire fraud, gambling ...