Simon Monjack, husband of the late Brittany Murphy, has canceled an event celebrating the actress' life.

On Tuesday, reported that Monjack was suggesting dollar amounts of $1,000 per individual and $10,000 from corporations to attend a Feb. 4 launch party for the Brittany Murphy Foundation, which is dedicated to arts education for children.

But a source tells Us that Monjack had an assistant call all of the RSVP'd guests Tuesday afternoon to tell them the event has been cancelled indefinitely because he has pneumonia.

A source tells Us, "He probably realized that everyone thought what he was doing was so tacky, so he decided to cancel."

Murphy was found dead Dec. 20 at the age of 32. The results of the toxicology report to determine the cause of her death are pending.