Jonathan Cain is claiming victory in his ongoing legal battle against Journey bandmate Neal Schon. The latest development finds the Delaware Chancery Court appointing Joseph R. Slights III to act as a custodian of the pair’s company, allowing him to act as a deadlock-breaking casting vote in the case of disputes.
In a statement, Cain’s legal team say, “Jonathan Cain is pleased to announce the resolution of the recent legal dispute between him and Journey bandmate Neal Schon in connection with the deadlock in the management of their touring company, Freedom 2020, Inc. resulting from Messrs. Cain and Schon each owning 50% of the company and each serving as the company’s sole directors.
“The lawsuit was filed in the Delaware Chancery Court on July 24, 2024, after repeated efforts over several weeks to select a third, independent director amicably failed. The Chancery Court granted Mr. Cain’s motion to expedite the litigation and a trial date was scheduled for early September 2024.
“Mr. Schon ceded to Mr. Cain’s demand and stipulated to the Court of Chancery’s appointment of a third director of the Company. On August 28, 2024, the Delaware Chancery Court issued an order appointing former Vice Chancellor Joseph Slights as the Custodian.
“The order aligns with Mr. Cain’s requested relief in the lawsuit. Mr. Schon is prohibited from unilaterally acting on behalf of the Company and all future deadlock between Mr. Cain and Mr. Schon will be broken by the vote of the Custodian.
“Mr. Cain is elated with the outcome and looks forward to moving beyond this matter so that Journey can continue the band’s 50th Anniversary Freedom Tour. “
According to court documents associated with the case, Neal Schon does not oppose the appointment. The documents also reveal that the custodian, while able to exercise the power of a company director, is not actually a director of the company.
Cain’s lawsuit, which was originally filed early this month, detailed alleged instances of financial mismanagement by Schon, including the allegation that he’d spent up to $10,000 per night for hotel rooms for him and his wife, and accused him of “excessive expenditures relating to private jets”.
A week ago Schon took to social media to update fans, saying, “Anyone who follows Journey will know that Jon Cain and I don’t always see eye-to-eye on everything or, sometimes, on pretty much anything.
“Recently, Jon Cain made a number of claims and slanderous accusations about me and my wife – and I can’t stress enough how much it upset me and how wrong they are. I am determined to take the high road and push all this aside for the moment to focus on our fans, the tour and all who give so much to make things happen.
“That’s why I’m so glad that Jon now agrees with me that the current dynamic can’t continue and it’s also why I’m pleased that we’re going to bring in someone impartial to help us resolve our disputes, bring clarity to what we’re doing and allow us, as a band, to get back to what we should all focus on – making music and performing for our fans.”
The next date of Journey’s tour with Def Leppard comes tomorrow night (August 30) at Petco Park in San Diego, CA. The band’s scheduled UK tour was cancelled earlier this month.
Journey 2024 tour dates
Aug 30: San Diego Petco Park, CA*#
Sep 04: Seattle T-Mobile Park, WA^#
Sep 08: Denver Coors Field, CO^#
Oct 19: Osaka Sub Arena, Japan
Oct 21: Yokohama Convention Hall, Japan
Oct 23: Tokyo Budokan, Japan
Oct 24: Tokyo Budokan, Japan
#with Def Leppard
*with Steve Miller Band
^with Cheap Trick