Presley Enterprises accuses Chrysalis of “an astonishing lack of internal controls and related failures,” and “failure to properly render payment” of “substantial sums.” It adds that Chrysalis, amongst other things, commingled funds, took more commissions that it was entitled to, miscalculated foreign currency exchange rates, claimed, without documentation, that there were overpayments and failed to properly account for revenue received.
Elvis Presley Enterprises, which owns a 50% interest in the King’s compositions, is suing music publisher Chrysalis Music Group, claiming as much as $5 million in owed royalty payments.
In a lawsuit filed last week in New York Supreme Court, EPE says that Chrysalis has breached an agreement by failing to properly collect, account for and pay it owed money. EPE says that Chrysalis has improperly “co-mingled” its funds with other accounts…
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