Primary Wave and the James Brown Estate are in a new bid for the $90 million sale of Brown’s book and image last year.
The deal was announced in December 2021 and will see Primary Wave receive royalties, naming/equity rights, and a portion of its publishing rights. But a new lawsuit filed in Manhattan federal court on Nov. 15 alleges the contract violates the contract James Brown signed in 1999 with David Pullman’s Pullman Group. .
“This work resulted from the Pullman Group’s February 24, 1999, contract agreement with artist and songwriter James Brown and James Brown Enterprises, Inc. The exclusive letter of incorporation gave the Pullman Group exclusive rights to refinance or sell James Brown and JBE’s assets, including valuable rights derived from music copyrights, royalties, and other music-related items related to many compositions and songs. designed or made by James Brown,” the lawsuit reads.
“Pursuant to a separate engagement letter, the Pullman Group secured Brown’s property as part of the Pullman Bond offering,” the suit continues. “In exchange for giving up the rights to receive income from those properties during the repayment of the Pullman Bonds, Brown received an upfront payment of $26 million. As part of the payment for the Pullman Group’s services, the Special Letter of Intent gave the Pullman Group exclusive rights, after the redemption of the Pullman Bonds, to arrange for refunds or sales of assets. of Brown’s property until at least 2059.”
The Pullman Group learned of the Primary Wave deal on December 13, 2021, saying that the estate “behind the back of the Pullman Group” sold Brown’s assets to Primary Wave Music Publishing for $90 million. The lawsuit alleges that the Brown defendants blocked Pullman Group’s access to work with First Wave and used Shot Tower Capital to arrange the work.
It is also alleged that Primary Wave and Shot Tower Capital should have known about Pullman Group’s exclusive rights under the engagement letter. The Pullman Group filed and filed a filing with the United States Copyright Office.
It is seeking damages of no less than 12.5% of the value of the First Wave Transaction to the Brown Plaintiffs, including costs of $250,000 plus contractual costs, legal fees, and interest from the date of breach by the Defendant– in addition to the fine. and penalties for Primary Wave and Shot Tower Expansion.