Prior to his death last August, DJ AM spent nearly half a decade diversifying his business interests, stretching into television, nightlife and apparently putting money into a company called YTK Investments. In 2005, AM entered a contract where he would receive a 45.5 percent stake in YTK, granting the company what court documents refer to as a "limited, non-exclusive license to use" his name. YTK is still using AM's likeness to do business and has been sued for illegal exploitation of his name among other shady dealings. The suit, filed in Los Angeles Superior Court, also accuses YTK of misappropriating the portion of the company formerly owned by AM to his estate. Court documents indicate that AM's name is being used to sell securities in a venture called Orange Manor that is run by YTK.
This officially breaks down to a suit for breach of contract, breach of fiduciary duty, misappropriation of likeness and unfair business damages. AM's estate is looking for answers as to what's going on and damages in the excess of $1 million dollars. Most notably, YTK owns Club LAX in Las Vegas -- a venue where DJ AM routinely held performances for a drastically reduced fee because of his relationship with the investment firm.
The court papers were filed on June 1, 2010.
Beyonce 60-Pound Weight Loss: Queen B Flaunts New Figure During Comeback Concert Series
Carrie Underwood's Grunge Rock Past: 'I Was All About Pearl Jam'
Mary J. Blige, Charity Lawsuit: Singer's Foundation Sued for Failing to Repay $250K Loan
Brad Delp Suicide: New Details Emerge Regarding Boston Singer's Final Days
When Pop Stars Go Goth: Katy Perry, Shakira, Lady Gaga and Madonna Flirt With the Dark Side
PHOTOS: Most And Least Christian States In America
Steeve Hurdle Dead: Former Gorguts Guitarist Dies at 41 After Complications From Surgery
Naked Face Eater's Victim ID'd; Attack Lasted 18 Minutes
Kylie Minogue 'Timebomb' Video: Diva Wears Barely-There Dress for Racy Visuals -- WATCH
SLIDESHOW: Tattoos That Go Way Beyond Your Average Tramp Stamp
10 Rockers Who Came Back After Serious Injuries
America's 10 Best National Parks
Material Girl, Georgia May Jagger: Mick Jagger's Daughter Is New Spokesmodel for Madonna's Clothing Line
VIDEO, PHOTOS: Man Who Chewed Off Victim's Face ID'd
Ween Break Up: Band Is Done, According to Aaron Freeman/Gene Ween
Boy Buys Old Polaroid Camera, Finds Picture Of Uncle
'I Am Now Who I Was Supposed To Be'
Wynonna Judd's 33 Wildest Stage Costumes
NSFW PHOTOS: A Little Too Much Of A Rear View
Eight-Year-Old Upset After Teacher Gave Her The Biggest 'Catastrophe' Award
Cops Probe Possible Connection Between Two Missing College Students
'Cannibal' Attack: Naked Man Shot Dead In Miami 'As He Chewed Victim's Face' (VIDEO, PICTURES)
'Polish Death Camp' Remark Lands Obama In Hot Water
PHOTOS: Nicole Scherzinger Almost Reveals Too Much
Donald Trump Can't Be Controlled, Causes Major Headache For Mitt Romney
Walmart Workers Call Cops On Veterans On Memorial Day
FREE FALLING
'Private Practice' Cast Shake Up
Katie Couric Reveals Dream Guests
The 10 Least Affordable Places To Buy A Home
Pat Gallagher: Late Bloomers: Hollywood Stars Who Made It Big After Age 50
Travel + Leisure: PHOTOS: America's Worst-Dressed People
Yale Student Killed In Crash Days After Graduating
1 Comment