Toni Braxton Settles Suit
February 13, 2007 at 5:57 PM (PT)
Attorneys for TONI BRAXTON announced today that the recording artist settled her lawsuit against her former manager, BARRY HANKERSON, and her former label, BLACKGROUND RECORDS LLC (NET NEWS 1/29). Under the terms of the settlement, BRAXTON will no longer have recording obligations to HANKERSON or BLACKGROUND and is free to pursue agreements with other labels.
According to BLACKGROUND attorneys RICKEY IVIE and SAMUEL CHILAKOS, the settlement requires BRAXTON to return to BLACKGROUND a $375,000 advance she received on DECEMBER 27, 2006, and further provides for compensating BLACKGROUND by paying to it a percentage of the net sales of BRAXTON's next album. BLACKGROUND released BRAXTON from her recording contract on JANUARY 10 of this year.
"This settlement allows Ms. BRAXTON immediately to start new projects of her choice," said her trial lawyer, PETER HAVILAND. "She wanted to end her relationship with BLACKGROUND and BARRY HANKERSON, and she has. Money has never been what motivates her. Integrity -- artistic and personal -- does."
BRAXTON said, "My freedom from BARRY HANKERSON is priceless and means everything to me."