Jackson sued over Beatles breach

Los Angeles: The recently acquitted pop star Michael Jackson is in trouble after being sued by finance company Prescient Acquisition Group for having failed to pay them $48 million. He was supposed to recover his stake in publishing rights for The Beatles’ back catalogue. Jackson had approached the Prescient Acquisition Group in November 2004 to secure financing of a whopping $272 million debt to the Bank Of America. The company secured $537 million for Jackson to clear his debt and also buy the half of The Beatles legacy he didn’t already own. — HNS