New suit is the latest salvo in an escalating legal battle over Petty's assets.
In yet another escalation of the ongoing legal battle between Tom Petty’s widow Dana York Petty and his daughters Adria Petty and Annakim Violette, a suit filed in Los Angeles County court on Wednesday (May 15) is now accusing Dana and several other defendants of breach of fiduciary duty, unfair competition, unjust enrichment and more.
Filed on behalf of plaintiff Petty Unlimited -- an LLC established in Petty’s will that allocated one-third of Petty’s assets to each of the three women -- the suit alleges “self-dealing, theft, and gross mismanagement of company assets” on Dana’s part by failing to fund the LLC with assets from Petty’s trust, for which she was previously named as “directing trustee.”
Instead, the new suit alleges, Dana set up a separate LLC, Tom Petty Legacy, “as a vehicle through which to deprive” Petty Unlimited of those assets. It further alleges that the co-named defendants -- which include Lawrence N. Jenkins, Anthony Dimitriades, Alan Arora, the company LJ Entertainment LLC and unnamed individuals deemed “Does 1-50” -- worked “in conjunction with” Dana to achieve this. In so doing, the suit claims, they violated California’s common law against unfair competition as well as the state’s Business and Professions Code section 17200.