CMJ sued $1 million by promotions company

The New York Times report that New York music showcase, CMJ are finding themselves the subject of a $1 million from a former business partner.

It’s said that promotions company, Metropolitan Entertainment are seeking compensation for over $600,000 in loans, plus interest, originally taken out back in 2009 and 2010.

The two companies were planning on merging, before CMJ ”fraudulently transferred its assets to another corporation to shield them from Metropolitan”.

The annual event, CMJ kicked off yesterday in NYC and runs until Sunday (20 October).

[via Pitchfork]