In the fall of 2024, Pitchfork told Big Stik and Reed personally that the festival would not be moving forward the next year, the complaint states. A couple of months later, the finance director for Condé Nast discovered that more than $560,000 of Pitchfork's festival advance to Big Stik was unaccounted for. The director subsequently asked Reed for clarification and requested that he return the missing funds, the complaint states.