Earlier this month, a letter that Woodstock 50 co-founder Michael Lang sent to Dentsu Aegis, the former Woodstock 50 investor, was revealed, and in it, he wrote that Amplifi Live, an investment arm of Dentsu Aegis, “illegally swept approximately $17 million from the festival bank account, leaving [Woodstock 50] in peril.” He further alleged that Dentsu Aegis had no right to announce the festival’s cancelation, and the matter was brought to court. Now it has been announced that a judge ruled in Lang’s favor, saying that Dentsu Aegis was in the wrong in terms of announcing the fest’s cancelation. However, the former investor is not obligated to return the $17.8 million.
Woodstock organizer Gregory Peck said in a statement, “Woodstock 50 is on. We can’t wait to bring this important event to the public this summer. We have one of the greatest lineups of talent of any music festival, and we are grateful to all of the talent for their loyalty and support.”
Woodstock co-founder Michael Lang also said, “We have always relied on the truth and have never lost faith that the Festival would take place. I would like to thank all of the talent and their representatives for their patience and support. Woodstock 50 will be an amazing and inspiring festival experience.”
Following the ruling, the Woodstock Twitter account tweeted, “Judge rules Woodstock 50 Festival may go ahead as planned ! Dentsu Aegis had no right to cancel the Festival. Michael Lang thanked all the Artists and representatives for their support and looks forward to an amazing and inspiring Festival in August.”
There’s still a long way to go for the festival, it seems. It does not appear that Woodstock 50 has lined up new investors, and artists like John Mayer aren’t sure if they’re actually playing the fest.