Another day and another lawsuit for Lil Wayne, however this time around he is doing the suing. It is being reported that Wayne is suing the parent company to his Young Money record label, Universal Music Group.
When it comes to artist such as Drake, Nicki Minaj and Tyga they’re pretty much household names, and according to Lil Wayne, UMG has not paid him for discovering and nurturing these artist.
Instead Wayne claims that UMG has taken the money of his profits to repay themselves for the $100 million advance that was advanced to Cash Money Records.
According to the lawsuit filed this past Monday, “With Universal’s knowledge of Lil Wayne’s rights to partial ownership and profits from those artists, Universal and Cash Money entered into a series of agreements which, among other things, diverted Lil Wayne’s substantial profits to repay debts of Cash Money,” Wayne’s lawsuit states. “As a result, 100% of the profits that should have been paid to Lil Wayne as a result of his ownership of Drake, Nicki Minaj and Tyga records have been seized by Universal to repay debts that were neither incurred by nor were the obligations of Lil Wayne.”
According to Rolling Stone, a spokesperson from Universal said they did not know of the suit until it hit the media. However, “We don’t intend to dignify this with further public comment except to say that we will vigorously contest it and that the merits of our case will carry the day.”
Source: http://www.missinfo.tv/index.php/lil-wayne-sues-universal-40-million-royalties/
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