Songstress Lisa Marie Presley’s legal battles have not been ending. The Close to the Edge singer has sued her former manager Barry Siegel after a failed investment.
According to the court documents obtained, Elvis Presley's 50-year-old daughter alleged that Barry, who ran the trust that Elvis left for his daughter after her death in 1977, sold 85 percent her interest in Elvis Presley Enterprises for $100 million in 2005.
Lisa Marie Presley Sues Former Manager Barry Siegel for More Than $100 Million
In the documents, Lisa claimed that Barry used the money from the sale to invest in Core Entertainment, a parent company of American Idol. Core went bankrupt in 2016 that resulted in Lisa to claim she lost $24.5 million.
The court documents read,
Siegel never provided Lisa with the required accounting at any time after the Core deal. Siegel reportedly led Lisa to believe she was in ‘good shape’ with her finances.
The Nobody Noticed It songstress is suing Barry for $100 million because she believes that she has “been damaged in an amount that has not yet been fully ascertained, but is believed to be in excess of $100 million,” according to the docs.
According to The Blast reports, Barry says Lisa has “uncontrollable spending habits” and he has filed his own lawsuit against her.