The daughters of late rocker Tom Petty are suing his widow for allegedly mismanaging the singer’s estate.
Now in the filings, Dana Petty seeks permission to fund the LLC Tom Petty Legacy with the singer’s assets — over the protests of his two daughters.
Dana Petty has submitted new appeals in her ongoing legal battle with the late rocker’s daughters Adria Petty and Annakim Violette, according to documents filed in Los Angeles County court on Tuesday and Wednesday.
In two separate petitions, Dana asks the court to deny a previous petition filed by Adria demanding that Dana immediately fund Petty Unlimited, an LLC set up to receive assets (a.k.a. “artistic property”) from Petty’s trust. Instead, Dana wants to fund and execute an operating agreement for Tom Petty Legacy, a separate LLC that she established on her own.
Tom Petty wanted his music and his legacy to be controlled equally by his daughters, Adria and Annakim, and his wife, Dana,” said Petty Unlimited’s attorney Alex Weingarten in a statement to Billboard. “Dana has refused Tom’s express wishes and insisted instead upon misappropriating Tom’s life’s work for her own selfish interests. After countless efforts to resolve this matter amicably and out of court, we could no longer stand idly by and watch Dana disrespect Tom’s wishes, his music, and his legacy.”
Following Tom Petty’s death in 2017, the company Petty Unlimited was set up to manage the rocker’s affairs. As reported by The Blast, Petty Unlimited claims that Dana and others have withheld certain assets and diverted them to another company she set up called Tom Petty Legacy LLC.
Tom Petty’s widow Dana York Petty and his daughters Adria Petty and Annakim Violette, a suit filed in Los Angeles County court on Wednesday (May 15) is now accusing Dana and several other defendants of breach of fiduciary duty, unfair competition, unjust enrichment and more.
Filed on behalf of plaintiff Petty Unlimited — an LLC established in Petty’s will that allocated one-third of Petty’s assets to each of the three women — the suit alleges “self-dealing, theft, and gross mismanagement of company assets” on Dana’s part by failing to fund the LLC with assets from Petty’s trust, for which she was previously named as “directing trustee.”
Central to the conflict is the interpretation of Tom’s final wishes. According to Variety, Dana was named as trustee, with each of the rocker’s daughters entitled to “equal participation” in decisions. Adria and Annakim have interpreted this to mean that they get two votes out of three, giving them majority control. Dana sees things differently.