A group of artists, their heirs and representatives of their estates filed a putative class action lawsuit against Universal Music Group on Friday over a 2008 fire that destroyed up to 500,000 master recordings in the record company's archive vaults, according to a New York Times report.
Firefighters battle a fire on the backlot of Universal Studios on June 1, 2008 in Universal City, Calif.
"UMG concealed its massive recovery from Plaintiffs, apparently hoping it could keep it all to itself by burying the truth in sealed court filings and a confidential settlement agreement," reads the complaint. "Most importantly, UMG did not share any of its recovery with Plaintiffs, the artists whose life works were destroyed in the Fire—even though, by the terms of their recording contracts, Plaintiffs are entitled to 50% of those proceeds and payments.
-- the filing states the company has failed to inform the plaintiffs "that any Master Recordings embodying musical works owned by them were destroyed in the fire, and has refused to disclose or account to Plaintiffs for settlement proceeds and insurance payments received by UMG for the loss of the Master Recordings."
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