A Los Angeles jury awarded Sly Stone $5 million for royalties that were stolen from him over an eleven year period, from 1989-2000.
Gerald Goldstein and Glenn Stone brought Sly on to Even St. Productions Ltd. in 1989, when the legendary funk singer was deep into drug habits and long gone from a prosperous career. Sly assigned royalty rights over to the company and never saw anything come of it. The company told Stone he was not earning any royalties because of IRS problems and Stone believed them.
Over the subsequent years, the defendants stole all of Stone’s royalty earnings.
$2.5 million in damages were sanctioned against Even St. Productions, $2.45 million against Goldstein and $50,000 against Glenn Stone.
Stone’s attorney Nicholas Hornberger said, “It’s a good day for Sly, it’s a good day for entertainers in general. This was an important verdict for people that are artists, entertainers, music composers, etc.”