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SFX Entertainment Sued

February 6, 2014, 11:53 AM

Three men, Paolo Moreno, Lawrence Vavra, and Gabriel Moreno, say they were co-founders of SFX Entertainment [SFXE] and did not receive the founders' shares they say they were promised. They claim CEO Robert Sillerman had no real knowledge of the EDM space and depended on them for awareness and evaluation. They filed a lawsuit in Los Angeles and yesterday SFX responded with a one line "no comment" press release. Given how nasty such legal battles can become, often hinging around a handful of emai...

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