Sony Sues Vincent Herbert for $3.4M

Started by rosone1, March 23, 2017, 04:33:31 PM

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rosone1

Here?s the backstory: Last year, Sony Music Entertainment sued Vincent Hebert, accusing him of screwing them over after they paid him $5 million dollars.

Back in 2013, the parties entered into a deal with his company, Streamline Records, in which he would be paid to bring in new artists.

Sony paid Herbert a $5 million dollar advance against their share of the joint venture future profits, in exchange they would have the right to recoup the advance from payments due to Herbert from Interscope Records. Herbert was to direct Interscope to make the payments directly to Sony and barred him from changing this without their approval.

The deal stated Herbert was to submit 2 new artists per year. The first artist accepted under the new deal was his wife Tamar Braxton, who received a total of $1 million to record her first album. He was also named the Executive Vice President of A&R and was paid $100k salary.

Around October 2015, Herbert allegedly notified Interscope to cease making payments to Sony, which resulted in Herbert being paid monies owed to Sony, to recoup on their advance. The label has only been paid $1,528,315 from the $5 million advance.

Sony filed suit demanding Herbert return the remaining $3,471,685 owed.

Vonc2002

This is my pass to say WHATEVER tf I wanna say about the mess she releases so I don't wanna hear SHIT! Baby mama is a mess of a song btw







Opposites Attract.

Damn will this affect Mar's million dollar eOne deal


It's unconditional, these days you know....

Eternal Bell


MAY

Tamar & Vince are ALWAYS caught up in some financial mess

GRAND


Vonc2002

They really are. I can't wait until they crawl back into obscurity
This is my pass to say WHATEVER tf I wanna say about the mess she releases so I don't wanna hear SHIT! Baby mama is a mess of a song btw







'ology

Blessed Be The Mufuckin Fruit!!!


Marilyn

5% music, 95% BUSINESS

my damn head hurt from trying to understand that


🌍

Just Dropped In To See What Condition My Condition Was In

I am scarred, so fucking scarred
These are the scars of me
The very fucking scars of me
This is my tragic heart
My tragic heart

-Me "Tragic Heart"