Michael Jackson settles $48 Million Suit
Michael Jackson has reached a settlement over a breach of contract claim by finance firm Prescient Capital, a one-man operation owned by Darien Dash, cousin of entrepreneur Damon Dash.
Prescient sued Jackson and his MJ Publishing Trust for $48 million alleging breach of contract after providing financial advice to Jackson.
Dash was asked by Randy Jackson in late 2004 to find someone who would put up the financing to buy out $270 million worth of loans held by Bank of America in return for a 9 percent finders fee.
Dash claimed that he helped Jackson secure a commitment for $537.5 million in financing to pay off his debts.
Jackson had claimed he never heard of Dash and did not remember signing an agreement. The lawsuit was settled before jury selection was set to begin in U.S. District Court in Manhattan. The terms of the settlement were not disclosed.
Let's Inspire Success, Ownership, and Financial Independence!
As the world faces unprecedented challenges, one thing remains clear: the power to shape our own destiny lies within our hands. At BlackEntrepreneurProfiles.com, we are committed to fostering a brighter future for individuals of African descent worldwide through entrepreneurship and financial empowerment.
Together, let's pave the path to success! Your contribution matters. Donate today and be a catalyst for change.
Latest News & Articles
-
Elon Musk is Richer Than Most African and Caribbean Economies
Created by BlackEntrepreneurProfiles.comWhat happens when you compare the owner of SpaceX to the GDP of South Africa, Jamaica, or St. Vincent? The results are shocking. Discover the massive…
-
Elon Musk Cancels Partnership for Don Lemon's X Show
Created by BlackEntrepreneurProfiles.comElon Musk has ended X's planned partnership with former CNN anchor Don Lemon. This decision comes shortly after Lemon conducted an interview with the…
-
South Africa Opens Its Doors to Remote Workers With New Digital Nomad Visa
Created by BlackEntrepreneurProfiles.comSouth Africa is joining the growing trend of nations recognizing the potential of remote work and is taking steps to attract digital nomads. A newly…
Recently Added Black Entrepreneurs & Executives
-
Kevin Hart
Created by BlackEntrepreneurProfiles.comKevin Hart, widely recognized as a Hollywood A-lister and comedic powerhouse, has established himself as both a successful entrepreneur and a shrewd…
-
Peter Akwaboah
Created by BlackEntrepreneurProfiles.comPeter Akwaboah is a finance industry professional with nearly three decades of experience. He was recently appointed Chief Operating Officer by Fannie…
-
Bolaji Agbede
Created by BlackEntrepreneurProfiles.comBolaji Olaitan Agbede is Acting CEO of Access Holdings Plc following the passing of founding Group Chief Executive Officer, Herbert Wigwe. She is a…
FTC: Black Entrepreneur & Executive Profiles is reader supported, we may earn income on affiliate links. You support us by using our links to buy products, it will cost you nothing extra.
We also a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.