Michael Jackson Estate Threatens Legal Action Over Tribute Concert

Several weeks after announcing their intention to celebrate the life of Michael Jackson with an all-star concert called "Michael Jackson Forever," the initial lineup for the October 8 show at the Millennium Stadium in Cardiff, Wales, was revealed last week.

According to promoters, the Michael Forever show is slated to feature such stars as Christina Aguilera, Cee Lo Green and Motown legend Smokey Robinson, in addition to less globally popular talents, including Alexandra Burke, Pixie Lott, Leona Lewis, JLS, Craig David, Alien Ant Farm and a pair of Jackson-related groups, 3T and the Jackson Brothers.

The one thing the event does not have, however, is the approval of Jackson's powerful estate, which had kept silent about the show put together by parents Joseph and Katherine Jackson, along with siblings Jackie, Tito, Marlon, LaToya and Rebbie. Brothers Jermaine and Randy have not been involved in the plans and have publicly objected to the event because it falls in the middle of the involuntary manslaughter trial of Jackson's doctor, Conrad Murray.

On Tuesday (August 16) a spokesperson for the estate — which has handled all of Jackson's affairs since his 2009 death — confirmed that estate lawyer Howard Weitzman sent a letter to concert organizers last week raising some pointed questions about the show.

"I represent the Executors of the Estate of Michael Jackson. As the legal caretakers of Michael's intellectual property, we believe it is our duty to contact you directly regarding the growing number of questions that have been addressed to the Estate, as well as multiple concerns that have emerged in recent days," reads the letter.

After reminding organizers that the estate is the only entity that can sign off on the use of Jackson's image or his intellectual property — the concert's website is careful not to feature any images of the singer or samples of his music — the letter said the estate was "especially disappointed" by the announcement on Monday that greasepaint rockers Kiss have been added to the bill.

Specifically, the beef was that outspoken Kiss bassist Gene Simmons has made a number of disparaging comments about Jackson in the past. "It was extraordinarily embarrassing when no sooner had you announced this 'news' that [Simmons] would participate in your concert that TMZ posted an item noting that Mr. Simmons called Michael Jackson ... a child molester, notwithstanding the fact that Michael was acquitted by a jury," read the letter.

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The People Behind Penny Stocks

There are a lot of players involved with penny stocks. The individual investors are merely a symptom of a much bigger production, which includes many different roles and just as many different motivations. Learning about these different figures involved helps to make a very complicated picture much more understandable.

Penny Stock Promoters - a sad truth with penny stocks is that many of them are promoted or “touted” by paid cheerleaders, whose only aim is to drive up the price of the shares.

Promoters may be “investor visibility” companies, who are paid either by cash or with shares in the company to drive up the price. They are very common, and generally operate online, especially since it was the widespread adoption of the Internet which makes most of their tactics, along with their anonymity, possible.

Generally this type of promotional firm will publish glowing research reports about the penny stocks, with very high price targets, and will distribute them to mailing lists and through free-access web sites. This is a major risk for investors in penny stocks , and the most likely way to lose money.

Founders of Penny Stock Companies – these are generally the entrepreneurs whose great idea or business has grown enough to justify the penny stock listing. They often know little about the workings of the markets and how penny stocks trade, and much of the time they could care less.

It is unfortunate that many of these founders of small companies get derailed, used, or trampled by the other types of people involved such as the scam artists or promoters.

Executives in Penny Stocks – Many times the original founder of a company will retain a leadership role in the operations of the corporation, once the shares are publicly traded. More often, however, the positions of CEO, CFO, CTO, etc, are swapped out with “experienced” executives, who may be hand-picked by the venture capitalists or investment bankers who funded much of the penny stocks’ growth.

The thing about some executives is that they believe paid-for promotion is a good way to increase the price of their shares. They may present at an investment conference, or buy coverage from one of these tout-sheets, and spend many thousands of dollars (or provide many millions of shares) in the process.

While the share price of these penny stocks may increase as a result, it is an artificial inflation, and as such is unsustainable. Prices will come back down.

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