As Journey rocks stadiums across the nation on their 50th Anniversary Freedom Tour, band members Jonathan Cain and Neal Schon have finally resolved a legal dispute that threatened to overshadow the celebrations. The long-running conflict, centered around the management of their Freedom 2020 business subsidiary, has reached a conclusion with the appointment of a third independent director.
On Wednesday, Cain announced that the Delaware Chancery Court appointed former Vice Chancellor Joseph Slights as the tiebreaker between the two bandmates. This decision comes after months of disagreements over the company’s financial management, including tour expenses and hotel accommodations.
Cain’s legal team shared their satisfaction with the court's decision, stating, “Mr. Schon is prohibited from unilaterally acting on behalf of the Company, and all future deadlock between Mr. Cain and Mr. Schon will be broken by the vote of the Custodian.” Cain is reportedly pleased with the outcome and is eager to move past this issue, allowing Journey to focus entirely on their ongoing tour.
The dispute escalated when Cain accused Schon of taking a $1.5 million advance from promoter AEG for tour expenses, despite Cain’s preference for a more modest $500,000 advance. Furthermore, Cain criticized Schon for exceeding the company’s $1,500 per night hotel limit, allegedly spending up to $10,000 per night on accommodations for himself and his wife.
With the legal matters now resolved, Journey is set to continue their tour, bringing their legendary hits to fans across the country. The band performed in San Francisco on Wednesday and will move on to San Diego on Friday.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ