A&M; Records Founders to Sue Universal
The founders of A&M; Records will seek $200 million in a breach-of-contract lawsuit against Seagram Co.’ Universal Music for allegedly dismantling the label after a merger, their lawyer said. An amended lawsuit, expected to be filed in Los Angeles County Superior Court today by Herb Alpert and Jerry Moss, will revise a suit brought last June against PolyGram, which bought A&M; in 1989 but was itself acquired by Seagram last year. The amendment drastically ups the ante in the original suit against PolyGram, which centered on accounting disputes and claimed about $5.6 million for profits owed to the pair and their share of a Canadian tax settlement. Universal spokesman Bob Bernstein declined to discuss the suit, saying, “It is our policy not to comment on pending litigation.” The amended complaint will claim breach of contract by Universal and PolyGram for allegedly failing to honor a clause requiring PolyGram to sustain A&M; for 20 years, attorney Richard Posell said.
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