Auction Company Settles with Michael Jackson

[b]Auction Company Reaches Settlement with Jackson[/b] May 18, 2007 12:25 PM Michael Jackson has settled with an auction company that plans to auction off some of his personal items in Las Vegas. The items to be auctioned include old Jackson 5 costumes and possibly some court records. There is said to be more than 20,000 items in the auction. Jackson and the company settled out of court minutes before a hearing was to take place. Jackson had filed for a preliminary injunction to block the auction which is billed as the “The Jackson Family Memorabilia Auction” which is scheduled to happen on May 30th. The auction company, Universal Express, is arguing it doesn’t need Jackson’s approval. The company claims to have purchased thousands of items from Jackson’s former business partner who got them through Jackson’s bankruptcy. The company claims to have held back some very embarrassing items from the auction that they threatened to make public if Jackson continues to try and stop the auction.

MJEOL NOTE: There is absolutely no substantiation that there were any ’embarrassing items’. Remember, if there were any ’embarrassing items’, either Henry Vaccaro or tabloid reporter Diane Dimond would have reported about them long ago seeing as how both had access to the materials before they were sold to Universal Express.

Some of the items up for auction are on display at the Hard Rock Hotel and Casino.

MJEOL Note: The auction house has been in legal trouble before. Earlier this year, a New York Federal District Court judge ordered the company to pay over $25M after violating securities trading laws and issuing misleading press releases inflating the value of those securities. Read more: Damages against Universal Express, officers total $25.7 million

Source: [url=http://www.klas-tv.com/global/story.asp?s=6535844&ClientType=Printable]KLAS TV[/url]

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