4 reads
Leave a comment

Rihanna filed a lawsuit this week against her former accountants in which she claimed that their mismanagement of her finances cost her millions of dollars on her 2010 “Last Girl on Earth” tour. The suit filed in federal court in Manhattan accuses Rihanna’s former accounting firm, Berdon LLP, and two accountants of causing unspecified “significant financial losses.” The suit also claims that “gross mismanagement” of the singer’s finances cost her millions during the “Girl” tour. The lawsuit reads, “because she was a minor with no knowledge of the music industry or financial matters generally, Fenty [Rihanna’s last name] placed Berdon in a position of trust and loyalty.”

Among the allegations are that the firm and the two accountants earned commissions based on the singer’s gross receipts, which the paper said is not a standard mode of operation in the industry. During the “Girl” tour, that commission amounted to 22 percent of the tour’s total revenues, even as they paid Rihanna just six percent. Now, how are they getting paid more than she was getting paid!!!! and she was doing all the work.

Because they were earning commissions described as “exorbitant and excessive,” the accountants allegedly concealed certain facts about Rihanna’s finances from her that might have caused her to call off the arrangement had she known about them…that’s why Oprah always tell people sign your own checks!

Also On Old School 105.3:

Subscribe to the Old School 105.3 Newsletter

Follow

Get every new post delivered to your Inbox.

Join 614 other followers