 Seeing a huge money making chance Pro Arts released a regal poster of the King as a commemoration poster.A rival company who had bought all the rights to post-death Elvis memorabilia sued and even though Pro Arts eventually won the Elvis case they lost more than $1 million in sales and $150,000 on lawyers all for a paltry $17,000 in damages.Huge debt and rising interest forced Pro Arts to file for Chapter 11 bankruptcy in 1981.