AEG drops $17.5 million damages claim

Yesterday, AEG withdrew its request for $17.5 million in damages from Lloyd’s London. The decision came after it was revealed that the company had been concerned about Michael Jackson’s physical condition but had kept it hidden. In recent days, we’ve seen the leak of the company’s private emails. But Marvin Putnam said the company had already decided to cancel its damages claim, and that this policy has nothing to do with the leaked emails. After Michael’s death and the cancellation of the This Is It tour, AEG asked Lloyd’s London to pay the $17.5 million damages for the tour according to the contract. Lloyd’s London, in response—citing the company’s and Michael Jackson’s concealment of information—filed a lawsuit against AEG and the Michael Jackson company. After the company canceled its damages request yesterday, Lloyd’s London announced that it was withdrawing its lawsuit against the company, but its lawsuit against the Michael Jackson company remains in effect. Source: eMJey.com / CNN