The legal wrangling surrounding the estate of music legend Prince continues. According to a recent Associated Press article, a Delaware judge has rejected a motion to dismiss a lawsuit filed by Prince’s former business advisors, L. Londell McMillan and Charles Spicer Jr.
At the heart of the dispute is a limited liability company (LLC) established by three of Prince’s siblings. The siblings appointed McMillan and Spicer as managers of the LLC, but, another sibling attempted to remove them from their positions. In a significant victory for the former advisors, the judge ruled that the attempt to oust them was invalid. This ruling means McMillan and Spicer will retain their managerial roles within the LLC.
The lawsuit also accuses the defendants, which include two of Prince’s siblings and other heirs, of breaching the LLC agreement. The judge allowed this claim to proceed, paving the way for further legal action regarding the management of the estate.
This decision comes nearly eight years after Prince’s tragic passing in 2016. With the lawsuit moving forward, it appears that resolution regarding Prince’s estate remains a complex and ongoing process.
The attorneys at Lord & Lindley have significant experience with trust and estate disputes as well as disputes in closely held LLCs. If you need assistance maintaining or defending either kind of matter, please give us a call at 704-457-1010 to find out how we may be able to help you. For more information regarding our firm, attorneys, and practice areas, please visit our website at www.lordlindley.com.