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Rod Stewart Is Being Sued Rod Stewart, his management company, booking agents, and lawyers are being sued by a compendium of concert promoters for allegedly balking on a Latin American tour earlier this year.The suit, filed in Los Angeles Superior Court on Wednesday (July 10), accuses Stewart and his associates of breach of fiduciary duty, misrepresentation, fraud, contract interference, unfair business practices, and other charges. According to the collective of promoters, which includes PM Group of Oklahoma, corporations in Argentina and Peru, and individuals, Stewart, his management and bookers were approached in the final months of 2001 to arrange a nine-city tour in February and March 2002 of Latin America, at venues in Panama, Peru, Chili, Argentina, Brazil, Puerto Rico, and Mexico. The amount of $2.1 million was to be paid in advance and held in escrow by Stewart's talent agency, ICM, pending execution of a written agreement. The lawsuit asserts that payment in two halves was agreed upon, the first in January and the second in February. Promoters claim that as of January 9, $680,000 had been delivered to Stewart's representatives as good faith deposits, though economic troubles in Argentina and Mexico delayed the remaining $370,000. Stewart's attorneys demanded the remainder of the payment, citing breach of terms and conditions. PM Group made an additional payment of $100,000 while venues were already being booked and tickets were sold for the concerts. Stewart's representatives cancelled the tour in a letter to PM Group, claiming no contract existed as of yet. The promoters are now demanding the return of $780,000 in total from Stewart and his associates. The suit seeks approximately $3 million for damages. Calls to Stewart's management and attorney were not returned by press time. -- Darryl Morden, Los Angeles (launch.com) |
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