Published Dec 18, 2019After quietly settling a lawsuit last week, the late Tom Petty's once-warring family members have announced they have officially "resolved their differences and dismissed all litigation matters."
As previously reported, both parties — widow Dana Petty and the late musician's daughters from a previous marriage, Annakim Violette and Adria Petty — reached a "settlement agreement" in the $5 million USD lawsuit over the Tom Petty estate.
Making it official today that they are now moving forward, the estate issued a statement [via Rolling Stone] that reads, "Each of them sincerely regrets that in their intense grief over Tom's tragic death, actions were taken that were hurtful to one another."
A new LLC called Tom Petty Legacy will now manage all aspects of the estate and include all parties. It has partnered with Red Light Management to "guide, advise and execute on behalf of the estate."
"We are committed to honouring Tom's voice, music, integrity and his charitable spirit," Dana, Annakim and Adria Petty said in a joint statement.
"Each member of the family will have equal standing in Tom Petty Legacy, LLC and will work together on all future endeavours. The business will build upon Tom's 40+ years of great music and his historic career."
As previously reported, Petty's widow Dana Petty was sued this spring by the late singer's daughters, Adria Petty and Annakim Violette (formerly Petty), for allegedly mismanaging the estate and costing the company over $5 million USD.
The dispute reportedly affected the release of a posthumous greatest-hits compilation, in addition to a 25th anniversary edition of Petty's 1994 solo LP Wildflowers.