Tom Petty's Daughters Accuse Stepmother of Mismanaging Late Singer's Estate


Tom Petty's Daughters Accuse Stepmother of Mismanaging Late Singer's Estate
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Adria and Annakim Petty have launched a $5 million lawsuit against Dana Petty, claiming that the latter breached their fiduciary duties to Petty Unlimited by withholding certain assets.

AceShowbiz
Tom Petty‘s daughters have launched a legal war with their stepmother, accusing her of mismanaging their late dad’s estate.

Adria and Annakim Petty are suing his widow, Dana Petty, for $5 million (£3.9 million), claiming she is ruining the family business.

According to court documents obtained by The Blast, the sisters, who run Petty Unlimited, claim Dana and others have breached their fiduciary duties to the company by withholding certain assets and diverting them to another firm, Tom Petty Legacy LLC.

The sisters insist Dana’s actions go against their father’s wishes.

“As direct and proximate cause of Defendant Dana York Petty’s usurpation of Plaintiff s business opportunities as alleged herein, Plaintiff has suffered and continues to suffer damage in an amount in excess of $5 million, according to proof at trial,” a legal statement reads.

The family feud has been rumbling since Petty’s sudden death in October, 2017 and last month, Dana filed suit against Annakim and Adria, accusing the sisters of conspiring to make it impossible for her to manage her late husband’s estate.

She included an email directed at Petty’s longtime bandmates Benmont Tench and Mike Campbell, who helped compile last year’s (2018) “American Treasure” box set, from Adria, in which she writes: “What I don’t have the temperament for is having my entire life raped. Being disparaged. My dad being disgraced. And being surrounded by selfish, unreliable people and drug addicts.”

Dana also claimed her stepdaughters are blocking her plans to release solo tracks Petty recorded 25 years ago as part of a 25th-anniversary box set release of his hit album “Wildflowers”.

Dana asked a judge to appoint a day-to-day manager for the estate.

Her late husband left Dana in charge of his legacy and recordings but insisted his two daughters from a previous marriage had a say in all major decisions.