On behalf of Petty Unlimited LLC, Alex Weingarten filed a lawsuit in Los Angeles Superior Court to remedy the self-dealing and theft and gross mismanagement of company assets by Dana York Petty, the surviving spouse of Tom Petty.
Tom entrusted Dana and his daughters, Adria Robin Petty and Annakim Violette, to manage Petty Unlimited after his death, with clear instructions that they participate equally in the management of Petty Unlimited. According to the complaint, Dana has refused to follow her late husband's instructions and insisted on competing against Petty Unlimited and misappropriating its business opportunities and assets, all the while continuing to ostensibly serve as a manager of Petty Unlimited.
Among other things, the complaint alleges that Dana has established Tom Petty Legacy, LLC, as a vehicle through which to deprive Petty Unlimited of its business and compete against Petty Unlimited, and retained Lawrence N. Jenkins, LJ Entertainment LLC, Anthony Dimitriades, and Alan Arora to work in conjunction with her to usurp Petty Unlimited's business opportunities and misappropriate its assets.
Petty Unlimited therefore brings this action for damages and other relief against Dana and her co-defendants, based on claims including usurpation of company opportunities, breach of fiduciary duty, conversion, intentional interference with prospective economic advantage, unfair competition, and unjust enrichment.
Alex Weingarten explains: "Tom Petty wanted his music and his legacy to be controlled equally by his daughters, Adria and Annakim, and his wife, Dana. 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."
News of the filing received significant coverage from Variety, Billboard, ET Canada, CNN, Rolling Stone, Yahoo Entertainment, Fox News, Forbes, Page Six, Daily Mail, MSN, Law360, People, Bloomberg Tax, American Lawyer, and The Blast, among other publications.