There’s many examples of legendary rock bands getting screwed by the man. Pink Floyd doesn’t want to be known as one them.
According to The Guardian, the legendary outfit has filed a lawsuit against music label EMI, “claiming the private equity-backed firm has miscalculated royalty payments.” While terms of the suit haven’t been revealed, as Rolling Stone points out, “since only the Beatles have outsold Pink Floyd’s back catalog over the past 25 years, this case may be over millions in lost royalties.”
Consider this another blow to EMI’s credibility. After all, this is just the latest in a recent wave of bad news for the label. Once home to acts like Pink Floyd, Paul McCartney, Radiohead, Coldplay, The Beach Boys, and The Rolling Stones, the British label’s now appears to be in dire straits, with many of its artists having already left, reportedly clamoring to do so. Case in point: Radiohead and The Verve.
Neither side has commented on the report. Pink Floyd has been with the label since 1967.