Court rules in favor of Woodstock Ventures LLC, denies $18 million injunction
Woodstock Ventures LLC won a key victory in court, breathing life into an event that is fighting for its very existence. New York Supreme Court judge Barry R. Ostrager handed down a ruling that Amplifi Live, the investment company behind Woodstock 50, had no right to cancel the 50th anniversary, giving hope to fans and event producers alike.
Dentsu Aegis, the parent company of Amplifi Live, has been working with event organizers as the production arm of the festival. They have been involved in a fiery dispute with the leadership of Woodstock 50, with the company’s attorney firing off recently at Lang and company, revealing Woodstock Ventures’ major logistical shortcomings in the process.
Michael Lang, producer of Woodstock 50, was thrilled about the ruling, and an official statement released by his co-founder Gregory Peck proclaimed, “Woodstock 50 is on!”
However, Woodstock’s struggles appear far from over. The judge did not order Amplifi Live to return the nearly $18 million that organizers say is owed to Woodstock Ventures LLC. The festival begins in exactly three months to the day, and still lacks an on-sale ticket date, a mass gathering permit, and a production company to produce the event. Additionally, most of the major acts that were booked to play originally signed with Dentsu Aegis. They are not contractually obligated to work with Woodstock 50 LLC, meaning that most artists will require entirely new contracts and commitments to perform.
Multiple potential investors have also denied Woodstock 50’s request for additional funding, and event organizers are saying that they need around $30 million for the event to take place.
The case was brought to court to answer one question: did Amplifi Live have the right to unilaterally cancel the festival? Although the answer is no, it appears that the deck is still completely stacked against Woodstock 50 and a long uphill battle remains if the festival is going to take place.
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