Elvis Estate’s $5 Million Lawsuit
January 11, 2011 6:26 AM Elvis Presley Enterprises, which owns a 50% interest in Elvis’ songs, is suing music publisher Chrysalis Music Group, saying they owe $5 million in royalties.
EPE says that Chrysalis has improperly “co-mingled” its funds with other accounts and has failed to properly pay the money they are owed. According to an audit that EPE conducted, the there were “significant and troubling problems,” including a lack of internal control and documentation, foreign withholding taxes that were allegedly improperly deducted without taking advantage of exemptions and reductions, and not ensuring that compositions were properly registered with performance rights organizations.
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