Swedish garage-rock band The Hives were forced to pay $3 million in a lawsuit stemming from unscrupulous business practices involving a music studio used by the band, according to reports in Billboard. The payment will be given to another Swedish band: 90’s one-hit wonders The Cardigans.
Both The Hives and The Cardigans used Tambourine Studios to handle their finances, but what they were unaware of was that Tambourine was transferring money between the bands, resulting in the Hives spending money that was technically loaned to them by the Cardigans. In their defense, the Hives claimed that they were unaware of Tambourine’s shady financial dealings.
Neither band has issued a statement about the legal proceedings at this time.