SFX has had some rough headlines lately, and this one only adds to the list. The EDM juggernaut is facing a major lawsuit that is now set for trial in October. The lawsuit stems from Paolo Moreno, who claims that he was instrumental to the initial growth of SFX and the acquisitions it made. Although Moreno says he played a vital role in the early days of the company and was promised “more than you can imagine”, he complains that he never received a dime for his efforts.
Moreno is bringing suit along with Gabriel Moreno and Lawrence Varva to the tune of $100 million. The date for trial has officially been set for October 6th, and is certainly not good timing for SFX and Robert Sillerman. Stay tuned for updates as we get them.