PONTIAC (WWJ/AP) - The Romantics have settled a lawsuit filed by a former bandmate over royalties.
The agreement was reached Tuesday after nearly six hours of mediation and averted a trial in Oakland County that would have opened up tax and business records.
George “Coz” Canler was a former lead guitarist with the band from 1980 to 2011. He sued two years ago, claiming he was cheated out of royalties from recordings that went to Master Beat, an entity created by the band to share profits. Band members said Canler wasn’t entitled to cash in on songs he neither wrote nor performed on.
The agreement says in exchange for Canler relinquishing a 25 percent share in Master Beat, he will be paid $50,000 within 14 days and $20,000 annually for the next four years, in addition to 15 percent of all future royalties for songs he either wrote or performed, The Detroit News reported.
The Detroit-based band is known for such hits as “What I Like About You” and “Talking In Your Sleep.”
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