Management of a company overseeing Prince’s assets and legacy must remain with Prince’s two longtime friends, a Delaware judge ruled Friday, denying company control to two of the late singer’s half-sisters.
The friends, lawyer L. Londell McMillan and producer Charles Spicer Jr., had sued Prince’s siblings and estate trustees over proposed amendments to the operating agreement for Prince Legacy LLC. The amendments sought to oust McMillan and Spicer as managing members of Legacy.
Legacy was created in the wake of Prince’s unexpected death in 2016. Along with another company—Prince OAT Holdings LLC—Legacy controls Prince’s estate.
The amendments aren’t valid because ...