Bill Zildjian Wins Lawsuit Against Sabian Cymbals

Bill Zildjian, son of Sabian founder Robert Zildjian, filed a lawsuit against his family and the cymbal company back in April, claiming that as a shareholder he was owed dividends. At the time, there was some talk that Sabian would be required to “wind up, dissolve and liquidate the company and assets as a whole” if necessary to pay up. That thankfully hasn’t come to pass, but a judge did recently rule against Sabian and award Bill $517,575 for dividends owed plus another $2,500 for court costs. No word yet on whether Sabian will appeal the judgment…or if Bill was invited over for Christmas dinner.

Update: Bill Zildjian was also awarded five percent interest on the outstanding dividend payments, which amounts to another $200,000. Sabian is definitely appealing the ruling. The lawsuit will likely drag deep into next year and get much uglier because Bill is alleging that “his father Robert misuses company funds for personal expenses and that his brother Andy actively undermines his position and influence on the business. He also claims his father has ignored established business regulations and protocols so as to maintain complete control of Sabian Ltd.”

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