1:20 PM PT -- Attorney for the band, Sasha Frid, tells TMZ, “Mick’s lawsuit is unfortunate and completely off-base. In 2008, Mick voted for and signed an agreement in which he and every other band member agreed that “in no event shall any resigning shareholder be entitled to receive any monies attributable to live performances (i.e., tours).”
Frid says Mick resigned from the band after the tour, yet the band still, "offered Mick a generous compensation package to honor his career with the band. Manipulated by his manager and lawyer, Mick refused and chose to file this ugly public lawsuit."
Frid also defends the band's performances, saying the group always plays live -- yet accuses Mick of struggling to remember chords.
Finally, Frid says, "Unfortunately, Mick chose to file this lawsuit to badmouth the band. The band feels empathy for Mick, wishes him well and hopes that he can get better guidance from his advisors who are driven by greed.”
Mötley Crüe co-founder Mick Mars IS going away mad ... as they're in the middle of a farewell tour, without Mick, he's suing his ex-band -- claiming they kicked him out and ripped him off, financially.
The band's lead guitarist announced last fall he wouldn't be joining the Crüe on the road, because he's suffering from a debilitating arthritic disease called ankylosing spondylitis -- but in his lawsuit he says he made it clear he could still record with the band or do limited performances ... he just couldn't handle a full tour with his condition.
According to docs, obtained by TMZ, Mick says the band cut his percentage of profits from 25 percent to 5 percent ... after he announced he was stepping back from touring. Furthermore, he claims the band's lawyers made him feel like he should be grateful for even that small cut, because they didn't feel they owed him anything at all.
Mick claims there was a full band meeting and they decided to "unilaterally" remove him from Mötley Crüe.
Some of this is definitely personal for Mick. In the suit -- filed by his attorney Ed McPherson -- Mick repeatedly accused bassist Nikki Sixx of "gaslighting" him about his guitar skills diminishing.
Mick says that's rich coming from Nikki, because he claims Nikki didn't "play a single note on bass" during a recent tour -- and instead, Nikki's parts were pre-recorded.
Mick is suing Mötley Crüe to hand over all the financial books, so he can see if he's getting screwed out of what he feels he deserves.