Former Trent Reznor manager John Malm has slammed the NINE INCH NAILS mainman for his "complete lack of loyalty and integrity," calling Reznor's lawsuit against him an attempt by Trent to blame everyone in the world "for his problems except himself."
As previously reported, Reznor sued his longtime friend Malm, along with business manager/accountant Richard Szekelyi, charging their Ohio-based J. Artist Management (JAM) company with "fraud and breaches of fiduciary duties," and swindling millions of dollars.
The suit reportedly seeks to "undo years of abuse of fiduciary duty … owed to Reznor, undo the numerous unconscionable contractual arrangements and unwind the numerous companies [they] created, confirm rightful ownership of intellectual property and compensate Reznor for the millions of dollars wrongfully taken from him."
In a statement issued this morning (May 20), Malm responded to the lawsuit by saying that "Trent Reznor's complete lack of loyalty and integrity is astounding. After 20 years of my professional and personal friendship and support, through some of his darkest hours and at great expense to me, he has decided that everyone in the world is to blame for his problems except himself. It's time for him to take some responsibility for his actions." Added Malm's attorney Alan Hirth: "Trent Reznor's lawsuit is nothing more than an ill-conceived response to an earlier lawsuit that John Malm was forced to bring in April against Reznor to recover more than $2 million in commissions that Reznor has refused to pay. Reznor has reneged on every single contract that he and Malm ever entered into. For at least the past six years Reznor's lawyers were fully apprised of all business dealings between Reznor and Malm. Only when Reznor ran out of money after failing for five years to release a new album or go on tour did Reznor and his high-priced handlers decide to blame Malm for Reznor's reckless spending and abandonment of Reznor's career."
(Thanks: Hits Daily Double)