This is being reported on several sites. The below is from Melodicrock.com:
JOURNEY’S Neal Schon & Jonathan Cain have put recent tensions behind them to launch an extraordinary lawsuit against fellow band members Steve Smith and Ross Valory.
Smith & Valory have been fired, effective immediately.
Steve Perry votes with Schon & Cain to maintain the current arrangements.
It seems Smith & Valory were attempting to take control of the band’s business entity Nightmare Productions to guarantee a better pay-day for after their retirement.
Here’s one summary:
[The] defendants attempted to launch an ill-conceived corporate coup d'état to assume control of Nightmare Productions because they incorrectly believe that Nightmare Productions controls the Journey name and Mark. They hope that, by taking over Nightmare Productions, they can hold the Journey name hostage and set themselves up with a guaranteed income stream after they stop performing. Smith and Valory began their campaign to take control of Nightmare Productions in December 2019 by conspiring to oust Schon and Cain from control.
Schon & Cain hit back with this:
---start---
Dear Mr. Smith and Mr. Valory:
This firm is counsel for Jonathan Cain and Neal Schon.
Mr. Schon and Mr. Cain are the remaining principal members of the band Journey.
Unfortunately, your recent actions, in concert with others, have demonstrated that you are no longer acting in the best interests of the band. As set forth in a Complaint filed today in the Superior Court of Contra Costa County, California, you both participated in a scheme to takeover one of the band’s entities, Nightmare Productions, Inc., in breach of your fiduciary obligations.
You did so to enrich yourselves at the expense of our clients and to the detriment of the band. Our clients have lost all confidence in you and are not willing to perform with you.
Mr. Schon and Mr. Cain, through Elmo Partners, hold the sole exclusive, irrevocable license to the Journey name and all associated rights (the “Journey Mark”). Specifically, pursuant to the Trademark License Agreement, dated January 15, 1985, Nightmare Productions, Inc. provided this license to Elmo Partners. The agreement provides that the license shall continue “until the date upon which none of Stephen Perry, Neal Joseph Schon, or Jonathan Cain is actively engaged in a professional music career utilizing the name “JOURNEY.”
Mr. Schon and Mr. Cain shall continue to pursue their music careers under the name Journey. Elmo Partners therefore retains and will continue to hold the exclusive, irrevocable license to the Journey Mark. Pursuant to the Agreement between the Elmo Partners, Mr. Schon and Mr. Cain control the Journey Mark. Mr. Schon and Mr. Cain are expressly authorized to perform together under the Journey Mark, with or without anyone else.
You have absolutely no rights to the Journey Mark and are not authorized to use the Journey Mark in any way. Effective immediately, you are no longer members of the band Journey and cannot perform under the name Journey.
If you act in contravention of our clients’ rights, please be advised that we will take all legal steps to protect the rights of our clients.
Nothing contained herein is intended to waive any and all rights of Mr. Cain and Mr. Schon, and all such rights and remedies are expressly reserved.”
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You can read the whole complaint, the evidence against and see Steve Perry vote with Schon & Cain to maintain the business status quo.
Link: https://mms.businesswire.com/media/2...pdf?download=1
https://www.businesswire.com/news/ho...0303006138/en/
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Chad
Originally Posted by ronmac
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Apparently me and my friends were chicks back in high school and didn't even know it!
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