The Pullman Group has filed a lawsuit against Primary Wave and the James Brown Estate over a $90 million catalog deal, claiming breach of contract from a 1999 agreement.

Photo Credit: Heinrich Klaffs / CC by 2.0

The lawsuit, filed in Manhattan federal court on November 15, challenges Primary Wave's December 2021 acquisition of Brown's master royalty income, name/likeness rights, and publishing rights. According to the legal document, the sale violates an exclusive engagement letter from 1999 between James Brown and The Pullman Group.

The 1999 agreement granted The Pullman Group exclusive rights to refinance or sell Brown's assets, including music copyrights, royalties, and other music-related assets until at least 2059. Under this agreement, Brown received $26 million upfront through a Pullman Bond offering.

The Pullman Group alleges that:

• The estate secretly sold Brown's assets to Primary Wave for $90 million
• Shot Tower Capital was used to arrange the transaction instead of Pullman Group
• Both Primary Wave and Shot Tower Capital should have known about Pullman's exclusive rights
• The engagement letter was properly filed with the U.S. Copyright Office

The lawsuit seeks damages of:

• 12.5% of the Primary Wave Transaction value
• $250,000 in liquidated damages
• Contractual costs and legal fees
• Interest from the date of breach
• Additional compensatory and punitive damages against Primary Wave and Shot Tower Capital

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