Wednesday, August 20, 2008

Industry Desperation Reaches A New Low

Virgin Records has sued the band 30 Seconds To Mars for alleged breach of contract and damages "in excess of $30,000,000", according to the lawsuit filed Friday (Aug. 15) in Los Angeles Superior Court.

Virgin accuses Jared and Shannon Leto of not delivering three of the five albums under the band's contract, which it entered into in 1999 with Immortal Records. Virgin took over the contract in 2004, according to the suit, which adds that the Letos "repudiated" the 1999 contract "and claimed that they were excused from such performance from and after July 4, 2008, pursuant to California Labor Code Sec. 2855(a)."

The law governs the ability of entertainers to terminate their contracts after seven years.

A representative for the band could not be immediately reached for comment.

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