Wednesday, March 7, 2018
Lisa Marie Presley, Elvis Presley’s daughter, has filed suit against Barry Siegel, her former manager, for $100 million. She claims that Siegel mismanaged trust assets provided for her by her father. Specifically, Presley is alleging that Siegel botched a 2005 deal that gave up the trust’s interest in Elvis Presley Enterprises for a stake in Core Entertainment, which reportedly went bankrupt a year later. Siegel’s attorney offered a stinging retort: “The 2005 deal she is complaining about now cleared up over $20 million in debts Lisa had incurred and netted her over $40 million cash and a multi-million dollar income stream, most of which she managed to squander in the ensuing years.” He scathingly added: “It’s clear Lisa Marie is going through a difficult time in her life and looking to blame others instead of taking responsibility for her actions.”
See Morgan M. Evans, Lisa Marie Presley Sues Former Manager for $100 Million After Announcing Massive Debt, Fox News, February 23, 2018.