Back in January it was announced that Woodstock would return for its 50th anniversary, with JAY-Z, Chance the Rapper, and Miley Cyrus among others later confirmed as performers at the festival. Unfortunately, it all sounded a bit too good to be true, and it was later reported that Woodstock 50 was canceled. The organizers behind the event insisted they would make sure it would happen despite these reports, placing the blame directly on investors. Now TMZ and The Blast report that Woodstock 50's organizers have filed a lawsuit against their former investors.

The lawsuit alleges that the original investors announced the cancellation of Woodstock 50 without the organizers knowing beforehand. Woodstock 50 claims Dentsu Inc. has caused "enormous and irreparable harm" thanks to their "outrageous and illegal misconduct." When Dentsu announced Woodstock 50 was cancelled, they allegedly took back the $17.8 million they provided.

"Dentsu purported to seize control of and oust W50 from the Festival’s production, and then immediately announced through press releases to the world on April 29 that it was unilaterally canceling the Festival," Woodstock 50 wrote in lawsuit documents. They added that Dentsu promptly contacted artists and was "falsely telling them that they were released from their contracts with W50 and the Festival, and that the performers should not perform at the Festival, though they have all been paid in full." 

The organizers of the festival, specifically promoter Michael Lang, still plan to go ahead regardless of the outcome of the lawsuit. They are asking for the $17.8 million to be returned to their bank account and that Dentsu be forced into arbitration.