The rappers say that Walmart and Post Consumer Foods neglected their cereal brand and intentionally hid it in stockrooms to prevent it from being sold to customers.
An eight-hour concert Friday night was a procession of generations of hip-hop royalty, from the Sugar Hill Gang to current stars like Lil Wayne. Run-DMC gave what was billed as their last performance.
17,000 fans turned up to the Hollywood Bowl for a concert by Willie Nelson and his famous friends. Owen Wilson, Helen Mirren, Ethan Hawke and Jennifer Garner all did the introductions.
NBC's American Song Contest will feature live performances representing all U.S. states, territories and Washington, D.C., with viewers voting for the best original song.
"It feels good to have ownership of the label I was part of at the beginning of my career and as one of the founding members," the 50-year-old rapper and mogul said.