Backstreet Boys Settle With Former Manager
Mon, 27 Oct 2014 12:31:12
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Backstreet Boys have settled a suit with their former manager Lou Pearlman. BSB accepted a $99,000 settlement, but perhaps more importantly, ownership of their master recordings of many hit songs has revered back to BSB. That can lead to even more income and royalties.
Pearlman was sentenced to 25 years in jail upon being convicted for his part in a financial scam back in 2008.
BSB claim that they were owed $3.5 million and had to work with Pearlman's bankruptcy team to sort it out.
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