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Judge Rules LiveXLive Investor Fraud Lawsuit Can Move Forward

LiveOne, the music media company that changed its name from LiveXLive in September, should prepare to go to trial with a former investor who claims he was defrauded of millions of dollars in cash and equity by company chairman and chief executive Rob Ellin or renew mediation and settle the three-year-old lawsuit outside of court. That’s according to a New York judge’s ruling Thursday (Nov. 4) after declining to dismiss fraud charges filed by investor Joe Schnaier in 2019.

During Thursday’s hearing, LiveOne attorney Steve Iser asked New York state court judge Jennifer Schecter to dismiss Schnaier’s fraud claims, arguing that Schnaier did not properly investigate Ellin’s claims before making his investment.

But Schecter declined that request, noting that Ellin made “knowingly false, material statements of fact” to induce Schnaier into investing $1.25 million in the then-fledgling media company LiveXLive (LXL) in early 2017. Those alleged misrepresentations include a claim by Ellin in 2016 that LiveXLive had “signed an IPO” worth $75 million to $125 million with the Bank of Montreal and a claim Ellin had secured the livestreaming rights to festivals including Coachella, Glastonbury and Bonnaroo — none of which turned out to be true.

Iser conceded in a July court filing that some of the representations made by Ellin were false, writing “had LXL obtained the rights to stream any major music festivals, such festivals not only would have been listed on LXL’s website so its subscribers could pay LXL to view the festivals, but there would have been press releases and/or disclosures of such streaming rights in LXL’s public filings with the Securities and Exchange Commission.” In court Thursday, Iser argued that Schnaeir was an accredited investor who had worked as a licensed securities broker for over 20 years and should have done a more thorough job conducting due diligence. If Ellin’s statements about the IPO or representations about his plans to merge LiveXLive with SFX and Quello had been true, they would have been disclosed to the Securities and Exchange Commission with accompanying paperwork.

“Every material misrepresentation is disclosed in SEC filings,” Iser told Schecter during the hearing. “Whether there’s a merger [would be] disclosed in SEC filings.”

Schnaier can’t claim fraud, Iser argued, because he had done almost no due diligence beyond “talking to the employees of LiveXLive,” ignoring “numerous hints of falsity” while failing to challenge Ellin’s assertions that documentation backing up Ellin’s claims was proprietary.

“I think someone as sophisticated and savvy as Mr. Schnaier would have said, ‘Wait a minute, you just told me all of this so-called proprietary information,’” Iser argued. “But he didn’t do that. And he’s an experienced broker and never checked to see if these things were proprietary.”

Schnaier’s attorney Josh Wurtzell said that Schnaier had spoken with a few members of LiveXLive’s management team and admits he wished he had been provided with more documentation, but as someone who had done similar in the past  “nothing unusual stood out to him.”

Iser’s line of argument, however, did not meet the high legal hurdle required to warrant the dismissal of fraud charges, Schecter said, and the judge suggested Iser save his defense for the jury. Noting that LiveXLive had exhausted its last legal remedies for having the case dismissed, Schecter encouraged both sides to weigh “the risks and strengths” of the case and consider meditation and settlement.

“Know that you are headed for trial. There will be expense. There will be uncertainty,” she said. “Are the parties determined to go to trial?”

Iser told the judge there were previous discussions about mediation and “now that this motion has been decided, I expect us to return to those conversations.” Wurtzel indicated he too was open to mediation.

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Talent already there, but funding will be crucial in search for next Olympic golf spearhead, says mentor of Saso’s heir apparent

The moment Yuka Saso announced she would opt for Japanese citizenship, the search for her replacement as spearhead of the country’s erstwhile vaunted women’s golf team began. And Carito Villaroman, perhaps the best US collegiate player the Philippines has produced, said the search is not a question of who’s out there. It’s how much the […]

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Anderson .Paak launches his own record label, APESHIT INC.

Anderson .Paak has launched a brand new record label called APESHIT INC.

READ MORE: Posthumous albums: why labels should show more respect for musicians’ art

The Grammy Award-winning solo artist, who is also one half of Silk Sonic alongside Bruno Mars, announced the arrival of the imprint on Tuesday (November 2) via a tongue-in-cheek pre-recorded press conference.

APESHIT’s mission statement is to focus on “raw talent” and artists who can actually play their own instruments.

“I wanted to start a label that sets fire to a new generation of artists, who can play while performing,” .Paak said in the clip. “This label is going to be about passion, about feeling, about honesty. It’s about respect for the culture and art and it’s about heart.”

.Paak, who has recorded for UMG/Interscope subsidiary Aftermath, said he was inspired to launch a performer-focused label after seeing fewer acts playing their own stuff on stage.

“Where is the next generation that can play instruments??” he asked. “I know they’re out there – don’t sell your instruments, this label wants to hear you!!”

You can watch the announcement below:

The APE in APESHIT stands for “Anderson .Paak Empire”, while the latter part of the label’s name is because “we on some other shit”.

The LA-based label is backed by UMG and its extensive network; it will be announcing its first signings soon.

“UMG has always strived to be a home for music’s best creators, innovators, disrupters and entrepreneurs, and one that operates globally to help artists expand their creative and commercial opportunities,” said Sir Lucian Grainge, UMG’s chairman and CEO. “Anderson .Paak has consistently created award-winning, culture shifting music and we are truly excited to work together to bring his bold and infectious vision for this new label to life.”

Anderson .Paak and Bruno Mars’ ‘An Evening With Silk Sonic’, is due to arrive next week (November 12) and will feature the previously released singles, ‘Leave The Door Open‘, ‘Skate‘ and ‘Silk Sonic Intro’.

Meanwhile, Anderson .Paak recently got a new tattoo on his arm that asks for none of his music to be released posthumously following his death.

The post Anderson .Paak launches his own record label, APESHIT INC. appeared first on NME.

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First Look At The Travis Scott x Nike Air Trainer 1 “Cactus Jack”

The needle is moving in the direction of Travis Scott once again thanks to word of the looming release of the Air Max 1 “Cactus Jack”. His latest collaboration will indeed release during Astroweek and on December 16th on Nike SNKRS, but our attention is being demanded towards another collaborative release that won’t hit until later in 2021 or possibly into 2022. That would be the Air Trainer 1 “Cactus Jack”, a project that was revealed back in September.

Seen on the feet of Sheck Wes during the Astroweek at the Cactus Jack Foundation Fall Classic Softball Game, the Travis Scott Air Trainer 1 (albeit in cleated form) features a similar racing-inspired aesthetic via the Cactus Corporation logo on the forefoot strap, the exterior rivets, and zippered pocket at the heel. While a shot of the rubber outsole isn’t revealed, it is likely that it includes one resembling tire tracks – just like the Air Max 1. The reversed Swoosh logo exists just on the medial side, while the logo sits properly on the lateral. A mix of materials, such as perforated suede, a corduroy-style texture, and a durable synthetic make up the entirety of the upper.

Again, these are expected (in standard, non-cleat form) in late 2021 or early 2022, so check out the photos ahead.

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Charli XCX Announces New Album & Tour, Drops ‘New Shapes’ With Caroline Polachek & Christine and the Queens

After weeks of teasing, Charli XCX released “New Shapes,” her new song featuring Christine and the Queens and Caroline Polachek, on Thursday (Nov. 4).

The synth-heavy song sees Charli, Christine and Polachek lamenting their inability to truly let their significant others in, instead pushing them away, rejecting true love and embracing freedom. “New Shapes” marks Charli’s second collaboration with Christine, their first being “Gone” from Charli’s 2019 self-titled album.

Charli took to social media to tell fans that her upcoming album, Crash, will be released March 18 of next year. Ahead of the album announcement, Charli revealed that Rina Sawayama, Oneohtrix Point Never, A. G. Cook, The 1975’s George Daniel and Ariel Rechtshaid, as well as “New Shapes” producers Deaton Chris Anthony and Linus Wiklund, will appear on the album as collaborators.

The 29-year-old will also embark on a multi-date tour in North America and Europe, starting March 26 at the Fox Theatre in Oakland and ending at Barcelona’s Primavera Sound festival on June 9. Charli revealed that fans can gain early access to tickets when presaving the album on Spotify or preordering the album through her official webstore.

Listen to “New Shapes” and see Charli’s list of 2022 concert dates below.

Charli XCX tour dates:

March 26 – Oakland, CA – Fox Theatre
March 29 – Portland, OR – Crystal Ballroom
April 1 – San Diego, CA – The Observatory North Park
April 3 – Los Angeles, CA – The Greek Theatre
April 6 – Denver, CO – Ogden Theatre
April 8 – Austin, TX – ACL Live at The Moody Theater
April 9 – Houston, TX – House of Blues Houston
April 10 – Dallas, TX – House of Blues Dallas
April 12 – New Orleans, LA – Orpheum Theater
April 13 – Atlanta, GA – The Eastern
April 15 – Asheville, NC – The Orange Peel
April 16 – Norfolk, VA – The NorVa
April 18 – Philadelphia, PA – The Fillmore Philadelphia
April 20 – Boston, MA – House of Blues Boston
April 22 – New York, NY – Hammerstein Ballroom
April 23 – New York, NY – Hammerstein Ballroom
April 25 – Toronto, Ontario – Massey Hall
April 26 – Royal Oak, MI – Royal Oak Music Theatre
April 28 – Saint Paul, MN – Palace Theatre
April 29 – Chicago, IL – Byline Bank Aragon Ballroom
May 13 – Dublin, Ireland – Olympia Theatre
May 15 – Glasgow, Scotland – O2 Academy
May 17 – Manchester, England – Victoria Warehouse
May 18 – Birmingham, England – O2 Academy
May 19 – London, England – Alexandra Palace
May 21 – Norwich, England – UEA
May 22 – Sheffield, England – O2 Academy
May 23 – Nottingham, England – Rock City
May 25 – Paris, France – Trianon
May 27 – Brussels, Belgium – La Madeleine
May 28 – Utrecht, Netherlands – Ronda Hall
May 30 – Berlin, Germany – Astra
May 31 – Cologne, Germany – Carlswerk Victoria
June 2 – Barcelona, Spain – Primavera Sound
June 4 – Milan, Italy – Fabrique
June 7 – Madrid, Spain – La Riviera
June 9 – Barcelona, Spain – Primavera Sound

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Harry Styles Helps a Fan Come Out to Her Mom at His Concert: ‘She’s Gay!’

Coming out to your parents can be one of the most emotionally gratifying things a person can do — and one lucky fan got some help from pop superstar Harry Styles to make her moment even more special.

During the Milwaukee stop Wednesday for his Love On Tour, Styles spotted a fan holding up a sign that read, “My mom is in section 201. Help me come out?” The “Watermelon Sugar” singer, naturally, stopped the show for a moment to read the sign and offer his help.

In a series of video clips posted online, Styles can be seen locating the fan’s mom in the crowd, before running across the stage and holding out his microphone, telling his fan to go for it. When she asked if he could do it because there were “a lot of people” in the crowd (“Did you not know?” he lovingly chided), Styles ran to the center of the stage singing to himself and loudly declared: “Lisa! She’s gay!”

The stadium camera then panned to the fan’s mom, as she wiped tears away from her eyes, cheered, and blew kisses to her daughter down in the pit. Styles applauded before pointing something out to the fan and her mom. “Now, I don’t want to ruin the moment,” he said, smirking. “But wouldn’t it be nice if you were a little bit closer together? You’ll see her later, congratulations and thank you!”

The fan ended up posting a video of the moment from her perspective, while captioning it with a thank-you message for Styles. “A moment that will actually be with me forever,” she wrote. “Thank you for creating a safe place for me. Thank you for letting me grow alongside you as a fan. Thank you for helping me know who I am. Thank you.”

Styles, who’s managed by Jeffrey Azoff and represented by CAA, kicked off his North American tour in support of his chart-topping album Fine Line in September, after the trek was postponed twice in the midst of the COVID-19 pandemic. Lasting throughout the rest of the month, the Love On Tour will officially come to an end Nov. 28, where Styles will be the first performer at Belmont Park, New York’s brand-new UBS Arena.

Check out the emotional coming-out moment below:

a moment that will actually be with me forever. thank you for creating a safe place for me. thank you for letting me grow along side you as a fan. thank you for helping me know who i am. thank you. @Harry_Styles #LoveOnTourMilwaukee #LoveOnTour #SHESGAY

— mckinley 3 (@intothexxlight) November 4, 2021

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Constantino wrests Aoki lead after a 70

Harmie Constantino drained four of her five birdies in the last 10 holes on Thursday to salvage a second round two-under-par 70 and zoom to a two-shot lead over amateur Mafy Singson heading the final 18 holes of the P750,000 ICTSI Aoki Classic at the vast Eagle Ridge complex in Gen. Trias, Cavite. The sizzling […]

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Needing big man, NLEX goes for McDaniels over former import Harris

Getting an import right the first time would be so much more urgent now than at any time ever in the Philippine Basketball Association’s (PBA) history, given the current global health climate. That’s why NLEX coach and general manager Yeng Guiao needed an extra pondering for the right person to lead NLEX in the season-ending […]

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As Saso says sayonara, officials express gratitude for her PH stints

Golf ace Yuka Saso has begun the process of acquiring Japanese citizenship, technically barring her from representing the Philippines in future competitions. Saso’s decision, however, was received with much understanding and appreciation as the country’s top sports leaders expressed their gratitude for her never-done-before accomplishments. “It is her right to make that decision. I fully […]

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Slipknot announce new single ‘The Chapeltown Rag’ coming tomorrow

Slipknot have announced the release of a brand new single, ‘The Chapeltown Rag’, which is set to be released tomorrow (November 5).

READ MORE: Corey Taylor: “If I can wear a mask for a two hour Slipknot show, people can wear one for five minutes in a grocery store”

It comes after frontman Corey Taylor confirmed last month that new music from the band was imminent.

Taking to Twitter this afternoon (November 4), the band shared a link to an interview with Knotfest, in which they revealed ‘The Chapeltown Rag’ is a “punisher” of a new tune that will get its live debut tomorrow at Knotfest Los Angeles.

According to the article, the track – named after the West Yorkshire suburb Chapeltown, known for being where some of the Yorkshire Ripper murders took place – hears the band “detail the intersection of serial killers, social media, and self-discovery”. It is also referred to as the beginning of “their next era of domination”.

“It’s frenetic. But lyrically, it’s coming from a point of talking about the various manipulations that can happen when social media meets media itself,” Taylor said. “And the different ways that these manipulations can try to pull us in different directions, in the fact that we’re all becoming addicts to it, which is very, very dangerous.”

“The Chapeltown Rag”
New Single Out Tomorrow

— Slipknot (@slipknot) November 4, 2021

The frontman also discussed the band’s chemistry and how they’ve been “in such a great headspace lately”.

“I don’t know if it’s because we felt like we were taking everything for granted,” he said. “And getting it back has made us come together even stronger as a band, or whatever. But we’re all getting along so well. It feels like it did when we first started touring.

“When we first started touring, we were really tight and we all did everything together. Then obviously, as time went on, our personalities got bigger and our addictions got bigger. We all pulled apart in a lot of different ways and it was hard to get back to that. But now, it almost feels like it’s come full circle.”

The band’s last album was 2019’s ‘We Are Not Your Kind’, which saw them score their first UK Number One album in 18 years.

In a five star review, NME‘s Jordan Bassett called the metal band’s sixth studio album “an astonishing record: a roaring, horrifying delve into the guts of the band’s revulsion, a primal scream of endlessly inventive extreme metal and searing misanthropy.”

Back in August, Taylor revealed that he had just three songs left to record for Slipknot’s upcoming new album.

Speaking to fans as part of this year’s GalaxyCon, the frontman discussed the status of the follow-up to 2019’s ‘We Are Not Your Kind’, which has a tentative 2022 release.

“I was actually supposed to finish my vocals this week,” Taylor said. “I got screwed, man, [by the COVID diagnosis]. I actually only have really three songs left to do.

“I’ve done all the other tracks because I’ve been doing ’em in between tours, just fucking hitting it.”

Slipknot will hit the road in Europe next year for a series of tour dates.

Meanwhile, Corey Taylor‘s son Griffin and Shawn ‘Clown’ Crahan’s son Simon have shared the debut single ‘Asylum’ by their band Vended.

The post Slipknot announce new single ‘The Chapeltown Rag’ coming tomorrow appeared first on NME.

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The Kids’ Air Jordan 4 “Where The Wild Things Are” Releases Tomorrow

Throughout its 33rd year on the market, the Air Jordan 4 has emerged in handfuls of heritage-inspired retros. Its kids’-exclusive “Where The Wild Things Are” colorway, however, deviates from any Chicago Bulls or Jumpman legacy in favor of a playful, experimental take.

Releasing stateside tomorrow, November 5th, the sneaker is set to arrive in Grade School, Pre-School and Toddler sizing. All three pairs indulge in a synthetic leather “Pearl White” makeup across their uppers, while hits of neon green and “Gym Red” animate lace guards near the vamp and those attached to the iconic ankle flap. “Dark Driftwood” contrast arrives across the top and bottom-halves, nodding to the creatures central to Maurice Sendak’s 1963 children’s book. Lastly, faux fur take over the top of the tongue, collar panels and inner-lining, rounding out the fantastical ensemble.

Enjoy images of the retro here below, and find pairs arriving to tomorrow, November 5th.

For more Jordan releases, check out the Air Jordan 1 “Georgetown” set to launch February 2022.

Where to Buy

Make sure to follow @kicksfinder for live tweets during the release date.

Air Jordan 4 “Wild Things”
Release Date: Nov 5th, 2021 (Friday)

Color: Pearl White/Dark Driftwood/Gym Red

Grade School: $150
Style Code: DH0572-264

After MarketAvailable Now

Pre-School: $85

Style Code: DH0573-264

Infant & Toddler: $65

Style Code: DH0571-264

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Live Nation Roared Back in Third Quarter With $2.7B Revenue

With music fans returning to concerts and festivals, and buying concert tickets for a surge of 2022 concerts, Live Nation’s earnings began the long road to recovery in the third quarter. Revenue increased over 13-fold to $2.7 billion from the prior-year period, and adjusted operating income rose from a $319.2 million loss to a $305.7 million gain, according to the company’s earnings report released Thursday (Nov. 4)

Compared to pre-pandemic levels in 2019, however, some of Live Nation’s numbers were still down sharply. Third quarter revenue was 28.5% below the same quarter in 2019. Estimated events and fans were down 35.9% and 46.1%, respectively, from the third quarter of 2019.

Live Nation shares rose 2.1% to a $107.48 all-time high closing price on Thursday and reached $111.00, up an additional 3.2%, in after-hours trading after the earnings were made public.

Those fans who have returned to live music are spending more than they did in 2019. Live Nation’s Ticketmaster was a high point, recording an all-time adjusted operating income of $172 million, 35% higher than pre-pandemic levels. Tickets to major festivals were up 10% versus 2019, and pricing for festivals and amphitheater shows were up double-digits from the third quarter of 2019. On-site spending at amphitheaters and festivals were up over 20%.

Financial maneuvering in 2020 left Live Nation with ample liquidity of $2.3 billion, including $571 million of debt capacity and $1.7 billion in free cash –enough for “the runway it needs as more shows return,” the company said in a statement. In addition, the company has $1.3 billion in ticketing client cash on its books.

Financial performance – year over year (Q3 2021 vs. Q3 2020)

Revenue: up 1,367% to $2.7 billion
Adjusted operating income: up $624.9 million from -$319.2 million to $305.7 million

Financial performance vs. pre-pandemic period (Q3 2021 vs. Q3 2019)

Revenue: down 28.5% from $2.89 billion
Adjusted operating income: down 28.4% to $427.1 million

Attendance metrics vs. pre-pandemic period (Q3 2021 vs. Q3 2019)

Estimated events: down 35.9% to 5,563
Estimated fans: down 46.1% to 16.9 million
Tickets sold: down 29% to 83.1 million

This story is developing.

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