After years of litigative battling over royalties, Sly Stone may very well have it all. Back in 1989, a drug-riddled, broke-as-all-hell Sly struck a deal with ex-manager Gerald Goldstein and attorney Glenn Stone, solidifying the Family Stone leader as the co-owner of Even St. Productions (bankrupt as of 2013); a venture that would prove disastrous, robbing the legend of millions in royalties over the next 11 years. As an employee of his own company, Sly assigned Even St. as the collector of royalties on his behalf, but was supposed to receive those collections through the company. Stone claimed that not one check was received from 1989-2000, but the Goldstein/Stone defense countered with the fact that they helped Sly settle his score with the IRS, which amounted to millions in back taxes. Though Goldstein/Stone claim that they will challenge the verdict, Sly walked away with a cool $5 million; 2.5 million in damages against the Even St. Productions, $2.45 million against Goldstein and $50,000 against Glenn Stone. There's no word on when the parties will have their next day in court, but let's all stand by the legend's side in hoping that this will give him the final push to get some new music out there. Hold tight, we'll be sure to update in the weeks and months to come.
spotted at Billboard
