Friday, 7 February 2014

Sillerman and SFX face legal suit

EDM events firm SFX Entertainment is being sued by three apparent co-founders, who claim they were "frozen out" of the company by CEO Robert Sillerman, reports Bloomberg. Paolo Moreno, Lawrence Vavra and Gabriel Moreno claim that entertainment industry veteran Sillerman approached them in early 2012 to discuss his plans for an electronic music-focussed company. Having no experience in that side of the business, they say Sillerman used the three men's expertise to identify and purchase seven of the eight companies listed as SFX's "principal assets" in its IPO filing last year.

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