The Woodstock 50 fiasco continues to go from bad to worse, as organizers have now filed a lawsuit against the festival's chief investor Dentsu Aegis Network, which announced the event was cancelled.
Legal documents were filed Wednesday (May 8) in a New York court, arguing Dentsu "blindsided" Woodstock 50 organizers by the Japanese company's premature cancellation of the festival, TMZ reports. Woodstock 50 is now demanding $17.8 million USD be returned by Dentsu to Woodstock's bank account, in addition to the company ceasing all communications relating to the festival and granting financial relief to Woodstock.
"W50 [Woodstock 50, LLC] was blindsided by Dentsu's announcement, and shocked and outraged that Dentsu claimed the right to unilaterally cancel the Festival — an action that is expressly barred by its Agreement with W50," the complaint reads [via Pitchfork]. "Dentsu's sabotage did not stop with its unauthorized and improper cancellation announcement. Dentsu also pillaged the Festival bank account on its way out, taking all of the $17.8 million in the account earmarked for Festival production costs."
As recently reported, Woodstock 50 reportedly needs to secure $30 million USD by Friday (May 10) to produce the festival, set to run from August 16 to 18 at Watkins Glen, NY. This comes after both Dentsu Aegis Network and major production partner Superfly announced they would both be pulling out of the festival earlier this month.
So far, it's unclear if and how Woodstock 50 will raise the needed funds for the festival, which is — or perhaps was — set to feature the likes of JAY-Z, the Killers, Chance the Rapper, Imagine Dragons and more. That said, organizers are adamant the show will go on.
Legal documents were filed Wednesday (May 8) in a New York court, arguing Dentsu "blindsided" Woodstock 50 organizers by the Japanese company's premature cancellation of the festival, TMZ reports. Woodstock 50 is now demanding $17.8 million USD be returned by Dentsu to Woodstock's bank account, in addition to the company ceasing all communications relating to the festival and granting financial relief to Woodstock.
"W50 [Woodstock 50, LLC] was blindsided by Dentsu's announcement, and shocked and outraged that Dentsu claimed the right to unilaterally cancel the Festival — an action that is expressly barred by its Agreement with W50," the complaint reads [via Pitchfork]. "Dentsu's sabotage did not stop with its unauthorized and improper cancellation announcement. Dentsu also pillaged the Festival bank account on its way out, taking all of the $17.8 million in the account earmarked for Festival production costs."
As recently reported, Woodstock 50 reportedly needs to secure $30 million USD by Friday (May 10) to produce the festival, set to run from August 16 to 18 at Watkins Glen, NY. This comes after both Dentsu Aegis Network and major production partner Superfly announced they would both be pulling out of the festival earlier this month.
So far, it's unclear if and how Woodstock 50 will raise the needed funds for the festival, which is — or perhaps was — set to feature the likes of JAY-Z, the Killers, Chance the Rapper, Imagine Dragons and more. That said, organizers are adamant the show will go on.
