The estates of Tupac Shakur and Tom Petty, along with attorneys from other artists are suing Universal Music Group over the fire that destroyed master recordings in 2008. Reports say their lawsuit seeks “50% of any settlement proceeds and insurance payments received by UMG for the loss of the masters, and on top of that 50% of any remaining loss of value not compensated by settlement proceeds.”
The lawsuit also alleges that clients were left in the dark about their masters getting left in the dark about the status of their masters.
Back in 2008, a fire happened at a backlot Universal was renting from NBC. Many people knew about it, but apparently, they didn’t know the full extent of the damages until a New York Times article revealed that an estimated 500,000 master recordings were destroyed.