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‘Shady Business!’ O-Town RIPS Dead Boy Band Svengali Lou Perlman

Apr. 27 2017, Updated 10:05 a.m. ET

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O-Town is back with a vengeance!

The four remaining band members told RadarOnline.com exclusively that they penned a song about their dead former manager, Lou Perlman, called “Shady Business,” laying bare his secrets once and for all.

“We came from a ‘Rewind Con’ convention and it went terrible for us,” Jacob Underwood said of their new hit. “For everybody there, business-wise. So long story — it came from that situation happening right into a writing session. And it was within a couple months of Lou’s passing and everybody kept asking us what we thought and what we think and what it means to us.”

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He explained the song is about how they got taken advantage of in their careers, but fans will have to wait until the song is released this summer for the specifics!

As Radar previously reported, Perlman died behind bars from cardiac arrest in August 2016. He was in the middle of a 25-year-sentence for running a $300 million Ponzi scheme.

Although he managed the group (originally consisting of Underwood, Erik-Michael Estrada, Trevor Penick, Dan Miller and Ashley Parker Angel) from 2000 to 2003, it is not known how much money — if any — that he took from them. Members of the Backstreet Boys and NSYNC have slammed him in the past for shady business practices.

As for Angel, he's not with the group this time around.

Penick revealed to Radar that the men recently ran into Angel at the same Rewind Con, but they have not spoken since.

The men agreed that they don’t miss having Angel in the band since he’s “not in our life anymore.”

“It would be weirder to have him than it is to have him out now,” Penick added.

“I don’t remember having a fifth member!” Underwood joked.

Watch the video above for more!

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