Ilya S. Savenok, Getty Images The sad news came across late Wednesday afternoon…
- Posted on Aug 18th 2010 12:30PM by Barnaby Smith
Jerritt Clark, WireImage
The BBC reports that Love's lawyer, James Janovitz, confirmed the settlement but would not reveal further details or how much the settlement was worth.
Love was sued by London & Co two years ago for $1 million (£645,000), claiming the Hole singer owed them a share of the earnings from the sale of Nirvana's publishing rights. The sale raised nearly $20 million (£12.9 million).
Associated Press reported that attorneys for both Love and London & Co told a Los Angeles judge on Aug. 11 that the two parties had reached a settlement and the case was then dismissed.
Love has exercised control over the rights to Cobain's work since the singer committed suicide in April 1994.
It is the second time in just over a week that the finances of the Cobain legacy have been in the news, with Love also revealing her fears that her estranged daughter Frances Bean Cobain may lead a life of excess with the wealth she has amassed through her trust fund.