O.C. Smith Hit With $108,000 Lawsuit After Attempting To Buy Out Manager
Singer O.C. Smith was hit with $100,000 lawsuit today (November 6, 1971), claiming he owed his former manager in a contract dispute.
Manager Lee Magid filed the lawsuit against O.C. Smith in Los Angeles Superior Court, claiming he owed him $108,350 of a $200,000 agreement.
O.C. Smith had signed a contract with Lee Magid in 1965 and the new paperwork was supposed to allow O.C. to buy himself out of that deal.
According to the lawsuit, O.C. Smith paid $50,000 upon signing the buyout agreement and another $41,000 later on in that year.
O.C. Smith had also agreed to forfeit his royalties from Columbia records, until the $200,000 debt was paid off.