Tom Petty's Widow & Daughters Reach Settlement in Battle Over Rocker's Estate

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Tom Petty and The Heartbreakers kick off their summer 2014 tour in support of their latest album 'Hypnotic Eye' at Viejas Arena on Aug. 3, 2014 in San Diego, Calif.

The parties launched into a legal battle last spring over the late star's assets.

Tom Petty’s widow Dana Petty and his daughters Adria Petty and Annakim Violette have reached a settlement agreement in their legal battle over the late rock star’s estate, according to documents obtained by Billboard.

The legal dispute first erupted in April, when the parties filed dueling court petitions accusing the other of attempting to control Petty’s assets. The following month, a $5 million lawsuit was filed against Dana and several co-defendants by Petty Unlimited, an LLC established in Petty’s will, that accused her of “self-dealing, theft, and gross mismanagement” of her late husband’s estate and an attempt to “deprive” Adria and Annakim of their share of his assets.

In a subsequent petition filed by Dana just two weeks later, she asked the court to fund and execute an operating agreement for Tom Petty Legacy, a separate LLC she established on her own, while alleging “foul behavior” on Adria’s part with regard to estate matters. She further accused both Adria and Annakim of interfering in and delaying several posthumous Petty releases, including the 2018 box set An American Treasure, the 2019 greatest hits collection The Best of Everything and a 25th anniversary reissue of Petty’s 1994 solo album Wildflowers that has yet to materialize.

The new documents, which were filed Friday (Dec. 13) in California Superior Court in Los Angeles, do not disclose details of the settlement. 

“We are pleased to announce the formation of Tom Petty Legacy, LLC to manage all aspects of Tom’s Legacy. We are committed to honoring Tom’s voice, music, integrity and his charitable spirit,” said Dana Petty, Adria Petty and Violette in a statement. 

Petty died of an accidental drug overdose on October 2, 2017, at the age of 66.

UPDATE: This article was updated Dec. 18, 2020, to include a statement from the family. 


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