Tuesday, November 18, 2008
– Clint Black is suing a partner in his Equity records venture, claiming in a Tennessee court that he was not fully aware of the contract Little Big Town signed the label. LBT has since left Equity for Capitol Nashville.
Black is suing manager/accountant Charles Sussman and his Music Row firm, Gudvi, Sussman & Oppenheim in a complaint about royalties, according to the Nashville City Paper. In a complaint filed Nov. 7 in Davidson County Chancery Court, Black claimed Sussman and his firm "repeatedly engaged in self-dealing, negligence and/or gross negligence" about the singer's finances.
Black claimed Sussman convinced him to give more than $500,000 in royalties to Equity Records, an independent label in which both Sussman and Black have minority ownership. Black said he received nothing in return for the deal, "providing Equity an interest-free, unsecured loan."
Black also alleged Sussman took monthly payments from Equity unbeknownst to Black. Sussman also had Black sign more than $1 million worth of personal guaranties for Equity, according to the suit.
Black said he was told LBT inked a long-term contract with Equity, but left the label after releasing "A Place to Land in April. Black said he was unaware of the contract. He is seeking unspecified compensatory and punitive damages.