Adria Petty and Annakim Violette claimed $ 5 million plus legal fees in a lawsuit filed Wednesday in the Los Angeles Supreme Court.
The plaintiff in the lawsuit is Tom Petty Unlimited, a limited liability company founded in March 2018, which manages the musician's estate after his death.
The Company controls Petty's rights as a record artist, composer, publisher, and producer, overseeing his memorabilia, gadgets, musical instruments, and other financial assets.
Petty's daughters claim in the lawsuit that Petty assumed the same responsibility for his estate and York Petty. The daughters accuse York Petty of "gross mismanagement" by Tom Petty Unlimited, according to the lawsuit
The lawsuit states that York Petty has caused the daughters to lose master recordings due to their "exploitation of" business opportunities "Tom Petty has been affiliated with a number of companies, including MCA Records, Geffen Records, and Warner Music Group.
The lawsuit also states that York Petty has formed a rival company, Tom Petty Legacy, "to use the plaintiff's business opportunities and inappropriately his assets.