07/16/08 - New Owners Of Death Row Sued For $25 Million

J-Banks · 07-16-2008, 03:02 PM

New Owners Of Death Row Sued For $25 Million
Published Wednesday, July 16, 2008 1:43 PM

By Ismael AbduSalaam

Despite a high profile acquisition of Death Row Records by Global Music Group, the legal woes for the former Hip-Hop giant continues, as venture capitalist Ron Goldberg is suing the new owners for $25 million.

Goldberg alleged in Superior Court that the investors he recruited for the acquisition conspired with Global Music Group president Anthony Marotta and closed the deal without his knowledge.

He also names Susan Berg and Reggie Bush of RSB Investment Strategies as parties he recruited for the deal. Global Music Group acquired Death Row Records for $24 million just weeks ago, on June 24.

Goldberg further claims that the investors and Marotta used “confidential know-how, data, techniques, and contacts” that Goldberg himself had polished and refined for the deal. Death Row Records was founded in 1991 by Dr. Dre and Marion “Suge” Knight.

At its peak in 1995, the label was home to Tupac, Snoop Dogg, Tha Dogg Pound, The Lady of Rage, DJ Quik and many other West Coast stars.

Following the untimely death of Tupac Shakur in 1996 and the subsequent departures of Dr. Dre and Snoop Dogg, the label began a tumultuous decline behind unpaid royalties, inaccurate accounting practices, and Suge Knight’s periodic incarcerations.

Knight filed for Chapter 11 bankruptcy protection in April 2006, after losing a $100 million lawsuit to Death Row’s contested silent partners, Lydia and Michael “Harry-O” Harris.

Global Music Group’s $24 million acquisition gives the company all of Death Row’s assets, including its masters.

Source:

YoungGeeza · 07-16-2008, 03:19 PM

props mayne

susie · 07-16-2008, 03:22 PM

thank u for this

xxbooboo187xx · 07-16-2008, 04:20 PM

bwhwahah thats to funny they just got the shit lmao and thre already getting sued ha!

smicker · 07-16-2008, 06:52 PM

thats funny and good news

Rep · 07-17-2008, 01:25 AM

HaHa, ain't that some shit...not the best rebirth of a label, lol

HopsonHipHop · 07-17-2008, 02:32 AM

mo money mo problems

Yung_Rich · 07-17-2008, 02:44 AM

lol its always sumin wit dis label they need ta just end it

chickenwings · 07-17-2008, 12:00 PM

this aint got nuthin to do with death row records. dude claims the people who bought it made a side deal with the court appointed guy controlling the auction. but it aint got shit to do with the label

timmy_H · 07-17-2008, 03:08 PM

i feel bad for the new owners. but these guys suing for no fucking reason but money

07-16-2008, 03:02 PM	#1
J-Banks Super Moderator Join Date: Feb 2005 Location: Providence, RI Posts: 21,015 Repped: 5,294 Repped 53,425 Times in 7,839 Posts Blog Entries: 1 Neg Reps: 53 Neg Repped at 93 Times in 86 Posts	07/16/08 - New Owners Of Death Row Sued For $25 Million 07/16/08 - New Owners Of Death Row Sued For $25 Million New Owners Of Death Row Sued For $25 Million Published Wednesday, July 16, 2008 1:43 PM By Ismael AbduSalaam Despite a high profile acquisition of Death Row Records by Global Music Group, the legal woes for the former Hip-Hop giant continues, as venture capitalist Ron Goldberg is suing the new owners for $25 million. Goldberg alleged in Superior Court that the investors he recruited for the acquisition conspired with Global Music Group president Anthony Marotta and closed the deal without his knowledge. He also names Susan Berg and Reggie Bush of RSB Investment Strategies as parties he recruited for the deal. Global Music Group acquired Death Row Records for $24 million just weeks ago, on June 24. Goldberg further claims that the investors and Marotta used “confidential know-how, data, techniques, and contacts” that Goldberg himself had polished and refined for the deal. Death Row Records was founded in 1991 by Dr. Dre and Marion “Suge” Knight. At its peak in 1995, the label was home to Tupac, Snoop Dogg, Tha Dogg Pound, The Lady of Rage, DJ Quik and many other West Coast stars. Following the untimely death of Tupac Shakur in 1996 and the subsequent departures of Dr. Dre and Snoop Dogg, the label began a tumultuous decline behind unpaid royalties, inaccurate accounting practices, and Suge Knight’s periodic incarcerations. Knight filed for Chapter 11 bankruptcy protection in April 2006, after losing a $100 million lawsuit to Death Row’s contested silent partners, Lydia and Michael “Harry-O” Harris. Global Music Group’s $24 million acquisition gives the company all of Death Row’s assets, including its masters. Source: __________________ JBanksblog.com - check it out __________________

07-16-2008, 04:20 PM	#4
xxbooboo187xx Boo Boo since 92 Join Date: Jul 2008 Location: ATL Posts: 38 Repped: 0 Repped 0 Times in 0 Posts Neg Reps: 0 Neg Repped at 0 Times in 0 Posts	bwhwahah thats to funny they just got the shit lmao and thre already getting sued ha! __________________ gorillaz turn to bathing apes when i make it rain

07-17-2008, 01:25 AM	#6
Rep Veteran Join Date: Jul 2004 Location: Houston Posts: 9,592 Repped: 113 Repped 348 Times in 67 Posts Neg Reps: 0 Neg Repped at 1 Time in 1 Post	HaHa, ain't that some shit...not the best rebirth of a label, lol __________________

07-17-2008, 02:32 AM	#7
HopsonHipHop Join Date: Jun 2007 Posts: 54 Repped: 0 Repped 0 Times in 0 Posts Neg Reps: 0 Neg Repped at 0 Times in 0 Posts	mo money mo problems __________________

07-17-2008, 03:08 PM	#10
timmy_H Join Date: Apr 2008 Location: valley of dead Posts: 608 Repped: 38 Repped 31 Times in 16 Posts Neg Reps: 34 Neg Repped at 9 Times in 7 Posts	i feel bad for the new owners. but these guys suing for no fucking reason but money __________________ I can cum from 6 feet away!!!!!

07-16-2008, 03:19 PM	#2
YoungGeeza Banned Join Date: May 2007 Location: L.A. Posts: 2,779 Repped: 911 Repped 1,585 Times in 136 Posts Neg Reps: 0 Neg Repped at 0 Times in 0 Posts	props mayne

07-16-2008, 03:22 PM	#3
susie Join Date: Jul 2008 Location: Norway Posts: 225 Repped: 47 Repped 12 Times in 2 Posts Neg Reps: 0 Neg Repped at 0 Times in 0 Posts	thank u for this

07-16-2008, 06:52 PM	#5
smicker Join Date: Jul 2008 Location: mtl Posts: 28 Repped: 0 Repped 0 Times in 0 Posts Neg Reps: 0 Neg Repped at 0 Times in 0 Posts	thats funny and good news

07-17-2008, 02:44 AM	#8
Yung_Rich Official Business Join Date: Aug 2005 Location: On The Garden Side Of Things Posts: 8,322 Repped: 1,892 Repped 6,020 Times in 1,050 Posts Neg Reps: 130 Neg Repped at 118 Times in 97 Posts	lol its always sumin wit dis label they need ta just end it

07-17-2008, 12:00 PM	#9
chickenwings Veteran Join Date: Nov 2006 Posts: 4,598 Repped: 608 Repped 677 Times in 403 Posts Neg Reps: 505 Neg Repped at 224 Times in 166 Posts	this aint got nuthin to do with death row records. dude claims the people who bought it made a side deal with the court appointed guy controlling the auction. but it aint got shit to do with the label

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