According to Bloomberg, Fred Durst of Limp Bizkit renown filed a lawsuit in Los Angeles federal court today against Universal Music Group NV for upward of $200 million in damages and the return Limp Bizkit's copyrights. In addition, Durst is seeking copyrights from his Flawless Records imprint where he signed artists such as Puddle of Mudd and She Wants Revenge. Universal alleges Limp Bizkit hasn't yet recouped on their advances for albums which exceeded $43 million. For his part, Durst claims the band's original record label, Flip Records, has been profit-sharing the band's earnings with Universal while he has received nothing. To add injury to insult Fred's team discovered a million dollars in unpaid royalties sitting in a Universal Music database, stranded due to a error in new software and lack of up-to-date banking information which Durst alleges they already had from past advances.
Truly the music industry of yesteryear is long gone. And, personally, I'm on Fred's side in this situation and we at the NMA are wishing him the best in court.
