Hollywood wrote:Valory and Smith were owners of Nightmare so they couldn't be fired either.
Nothing in that statement is true. The were, and are, in leadership positions on Nightmare's board. They are partial owners in Nightmare because they own stock...as do Neal and Jonathan, and Steve Perry and Herbie.
Valory and Smith could, AND WERE, fired by Neal because Valory and Smith were EMPLOYEES of the LLC that Neal and Jonathan run. Nightmare has nothing to do with it.
They took a buyout after all the legal issues.
I don't think anybody knows the details of the settlement and people are just assuming and guessing.
Schon and Cain's suit had no merit.
I believe it was a knee jerk reaction by Neal after Nightmare made the trademark complaint effectively stopping JTT from earning money off of "Journey". Combine that with losing his leadership position at Nightmare and it just pissed him off enough to want to sue somebody over it.
Also, you can say that Ross's counter suit is without merit because much of it was based on Journey owing them money because they were contracted to do the tour with the Pretenders....a tour which never happened.
When that vote happened they lost. Valory and Smith were sneaky, but they won 5-2 and at the end of the day it didn't really give them much more power and no more ownership percent.
You are assuming what Neal said about a "coup" was a reality. There has been NO proof that Ross and Steve Smith were attempting a 'coup' to take over Journey. IMO, it is just Neal's paranoia and anger inventing things to justify his actions. It is just as likely that Herbie saw how horrible Neal and Jonathan were running Journey and wanted them out of leadership positions at Nightmare.
Cain was not alone in not wanting to record new music. The Smith, Valory, and management were not onboard either. Neal likes to make records the old fashioned way with a producer in an expensive studio which will run costs up so much they would never make their money back.
Neal fired management. As I have said, he could have replaced Steve Smith in the studio. I have not heard that Valory refused to record...but if he did, they could have replaced him in the studio too. They could have recorded the album and toured with Smith and Valory.
Jonathan not wanting to record is a different thing. As half owner of the LLC, Neal NEEDS him to agree in order for it to happen. I think I read somewhere that Jonathan does not want to do another album...so Journey won't be recording again until Jonathan changes his mind or is not longer part of the LLC.