A new lawsuit has been filed in Tennessee against the James Marshall Hendrix Foundation and its CEO, Joe Rosignolo, along with associates Dan Pikarsky and Mattel Sales Corp. The complaint alleges unethical and potentially unlawful fundraising practices involving the foundation and trademarked Hot Wheels car-care products.
According to the lawsuit, Dan Pikarsky, purportedly acting with authorization from Mattel, misused his position to solicit investments under the guise of benefiting the foundation. The suit claims that these fundraising efforts were deceptive and intertwined with personal financial schemes benefiting Pikarsky and Rosignolo.
Rosignolo is accused of using the Hendrix Foundation as a “personal slush fund,” allegedly diverting charitable funds for personal expenses, commingling assets, and making misleading claims about fundraising outcomes. The foundation’s legitimacy has been called into question, with critics pointing to a limited public presence and lack of meaningful activity.
The complaint further claims that Pikarsky combined investments in Hot Wheels products with donations intended for the foundation — a tactic the plaintiffs allege was designed to mislead supporters and obscure the true nature of the fundraising efforts.
While the lawsuit does not accuse Mattel Sales Corp. of direct wrongdoing, it alleges that the company either knew or should have known about Pikarsky’s activities involving its intellectual property and failed to take corrective action.
“The misuse of a charitable foundation, especially one tied to a legacy as iconic as Jimi Hendrix, is a betrayal of public trust,” said a spokesperson for the plaintiffs. “We believe this case will help bring much-needed transparency and accountability to nonprofit fundraising.”
The plaintiffs are seeking an injunction to restructure or dissolve the James Marshall Hendrix Foundation, as well as potential damages. The case underscores growing concerns over the oversight of charitable organizations operating under the banner of celebrity estates.
This press release is intended to inform the public about the allegations contained in a legal complaint and the importance of accountability in nonprofit governance. All parties are presumed innocent unless proven otherwise in a court of law.