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Chris Cornell’s Wife Vicky Cornell Sues Soundgarden Over Proposed Buyout Offer - Pitchfork
Feb 18, 2021 1 min, 18 secs
According to court documents viewed by Pitchfork, Vicky Cornell claims that she was offered less than a $300,000 buyout by the band’s remaining members: Kim Thayil, Matt Cameron, and Hunter Benedict Shepherd.

The complaint, which was filed yesterday (February 16) in a United States District Court in Seattle, refers to the buyout offer as “a villainously low figure.” Cornell seeks a judicial valuation of Chris Cornell’s interest in Soundgarden’s assets, including merchandise and future touring revenue.

The lawsuit alleges that Soundgarden’s buyout offer was not in good faith, and that the proposed figure “does not amount to the royalties that Vicky received from Soundgarden’s master recordings in 2018 alone.” The complaint added that Soundgarden made their buyout offer to Cornell after receiving an offer from a music investor, who offered to purchase Soundgarden’s master recordings alone for $16 million.

Because Vicky Cornell and the remaining members of Soundgarden cannot agree on Chris Cornell’s interest in the band’s assets, Vicky Cornell seeks a judicial determination of the buyout price.

As requested by the Estate of Chris Cornell and as required by the laws of the State of Washington, the surviving members of Soundgarden submitted to the Cornell Estate four months ago a buy-out offer of the Estate’s interests in Soundgarden calculated by respected music industry valuation expert Gary Cohen.

Since then, the band members have continued to try to settle all disputes with the Cornell Estate and in their several attempts to settle, the band members have elected to offer multiple times more than the amount calculated by Cohen.

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