Prince's former business advisors, L. Londell McMillan and Charles Spicer Jr., have reportedly won a significant judgment in an ongoing estate lawsuit against several of the late artist's heirs. BillboardMcMillan and Spicer currently serve as managers of Prince Legacy LLC, an estate management holding company they co-founded with several of Prince's legal heirs, but several family members, including Prince's half-sisters Sharon and Noreen Nelson, and his niece and nephew Breanna and Allen Nelson, have allegedly tried to oust McMillan and Spicer from the company. On July 5, a Delaware judge ruled that the four family members could not amend the LLC agreement to remove McMillan and Spicer from their positions because it violated the terms of the agreement.
“The LLC agreement is clear and [McMillan and Spicer]is the only reasonable interpretation,” St. Jude President Katherine McCormick wrote in the decision, reviewed by Pitchfork. “Plaintiffs allege that Defendants breached the LLC Agreement by removing the Managing Member and by attempting to amend the LLC Agreement. As discussed in the analysis above, their claims are well established. Plaintiffs allege a breach of contract.”
In a statement to Pitchfork, McMillan said he and Spicer were “pleased” with the new ruling in the case, as was another of Prince's relatives, Johnny Nicholas Nelson Torres, who “strongly disagrees” with Nelson's actions and joined the lawsuit as a plaintiff. “I have been Prince's defender and partner for decades, and nothing has changed our history or my loyalty to him and his legacy,” McMillan said. “While we are pleased with the judge's decision and wish we had not been forced to take legal action against the defendants' (and their advisors') wrongdoing, we have a heavy responsibility to preserve and protect Prince's legacy and all that he created by all appropriate means necessary.”
Attorneys for Sharon Nelson and the other defendants did not immediately respond to Pitchfork's request for comment.
As previously reported and reiterated in court documents, six of Prince's siblings inherited his estate equally, with three of them transferring a combined 50% interest to Prince Legacy LLC. As Prince's former business advisors, McMillan and Spicer assisted some of the heirs through the probate process and in return were each compensated with a 10% interest in Prince Legacy and “broad and exclusive management authority” as managing members of the LLC. “One of the heirs, Sharon Nelson, came to regret this decision and intervened in management decisions, including demanding the replacement of the entire staff of Paisley Park Museum,” the ruling states. “When McMillan and Spicer did not comply with her requests, Sharon led Defendants' efforts to amend the LLC agreement to remove McMillan and Spicer as managing members.”
The lawsuit also alleges that Sharon and Breanna Nelson attempted to sell shares to Primary Wave, which could upset the Prince estate's current 50/50 balance. McMillan and Spicer's lawsuit alleges that the Nelsons not only tried to change the articles of incorporation to remove the two advisors, but also tried to sell shares to third parties without the consent of all members of the Prince estate.
Prince died of a fentanyl overdose in 2016. At the time, he had no will, leading to a six-year legal battle in Minnesota probate court over the division of his estate and assets. When the case concluded in August 2022, his estate was split into two companies: Prince Legacy and Primary Wave.
