Michael Lang, the co-founder of Woodstock and producer of Woodstock 50, claims that Dentsu, the Japanese firm that backed out of backing the August event, owes the festival over $17-million.
He and the other organizers of Woodstock 50 have filed legal paperwork against Dentsu Aegis with the Supreme Court of the State of New York. The lawsuit includes a petition for an injunction and asks for the Court to place a gag order on Dentsu. They want the company to stop speaking with the media, state officials, performers and others. Most importantly, they want to force the company to return $17.8 million to the festival’s bank account, compel it to continue work on the fest, and to be more transparent in its accounting.
Billboard says Lang needs to come up with $30-million by Friday to salvage Woodstock 50, which he hopes to hold August 16th - 18th in Watkins Glen, New York.
Source: Rolling Stone and Billboard