Accounting policies at centre of Yoko Ono victory
Widow of John Lennon wins case against EMI and Capital records
Yoko Ono, the widow of
the late Beatle, John Lennon, has won a lawsuit against record labels EMI and
Capitol Records Inc for $10m (£5.5m) over claims she lost royalties from his
recordings.
Filed in
Manhattan’s
state Supreme Court, Ono has accused the labels of ‘willfully and knowingly
underreporting royalties’ by concealing the ‘true use and disposition of
Lennon’s recordings.’
They also allege that EMI and its
subsidiary ‘intentionally and systematically rendered dishonest and grossly
deficient accounting statements’.
EMI/Capitol, said that ‘artists from time to time request audits of their
royalty accounts’ and that ‘sometimes there are differences of opinion, which is
understandable given the complex nature of recording contracts’
EMI will be appealing the judge’s ruling.