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Prince Estate Civil War: Heirs Battle In New Lawsuit Over Alleged Company Coup
The case claims that “disgruntled” heirs have gone rogue and are threatening to plunge the iconic singer’s $156 million estate into chaos.
The lawsuit, made public Wednesday (Jan. 10) in Delaware court, amounts to a civil war among the members of Prince Legacy LLC, one of the two holding companies created to run the star’s $156 million estate. If Sharon and Norrine “install themselves” and oust McMillan and Spicer, the lawsuit claims that “their interference and intervention will make it impossible to carry on the business of Prince Legacy and will cause irreparable harm to the Company’s good will, existing relationships, and revenue streams.” Perhaps most notably, the lawsuit claims that both women then attempted to unilaterally sell their shares in the holding company to Primary Wave — a contentious subject that evokes the years of messy litigation and dealing that it took to finally resolve the estate case in the current 50-50 structure.
Or read this on Billboard