Megan Thee Stallion has settled with 1501 Certified Entertainment, ending her dealings with the record company. As The Shade Room previously reported, the rapper filed a suit against the label in 2020.
According to Billboard, the “Savage” rapper accused the label of signing her to an “unfair record deal” in 2018. As the years went on, the suit reportedly grew with additional litigation and Megan Thee Stallion ultimately seeking $1 million in damages.
RELATED: Megan Thee Stallion Wins Small Victory In Ongoing $1 Million Contract Battle With 1501 Certified Entertainment
More Information Regarding Megan Thee Stallion & 1501 Certified Entertainment’s Settlement
Billboard reports that attorneys for 1501 Certified Entertainment announced the settlement Thursday. The outlet adds that both parties have “mutually reached a confidential settlement to resolve their legal differences.”
Furthermore, the settlement marks a new chapter as Megan Thee Stallion and the record label “amicably part ways.”
“Both Megan and 1501 are pleased to put this matter behind them and move forward with the next chapter of their respective businesses,” the attorney’s statement reads, per Billboard.
Additionally, the official Instagram account for 1501 Certified Entertainment shared a screenshot of the attorney’s complete statement and words from the label’s CEO, Carl Crawford.
Crawford reportedly wishes the rapper “the very best in her life and career.”
According to Billboard, “specific terms of the deal,” including any monetary exchange, have not been publicly disclosed.
The Rapper’s Settlement With Her Former Label Arrives On The Heels Of Recent Public Statements
Megan Thee Stallion’s settlement with 1501 Certified Entertainment arrives just days after she took to Instagram Live to get candid with fans last week. During the stream, the 28-year-old shared that her upcoming album is “very much funded by Megan Thee Stallion.”
Additionally, she explained that she has “no label right now.”
“This part of my album is definitely very much funded by Megan Thee Stallion because, you know, we trying to get off,” the rapper explained as her voice trailed and she began laughing. “Y’all know what’s the tea… but I have no label right now and we’re doing everything funded straight out of Megan Thee Stallion pockets…”
The 28-year-old confirmed for fans that the “budget is coming straight” from herself.
“The next s**t you’re about to see is about to be all from Megan Thee Stallion’s brain — Megan Thee Stallion’s wallet,” the rapper reiterated. “We [are] in my pockets, hotties! So let’s do our big one ’cause we’re really doing our big one.”
Before concluding her statements, Megan Thee Stallion shared that she is “so excited” to be working independently for the first time since the early days of her career.
“I don’t want to sign to a label right now, I just want to do it myself…” the 28-year-old explained.
Check out her full statements below!
A Brief Look At The Legal Proceedings Between The Rapper & 1501 Certified Entertainment
As The Shade Room previously reported, Megan Thee Stallion initially filed a suit against her former label in March 2020. At the time, the rapper alleged that she signed an “unfair deal” with the label in 2018, per Billboard.
Additionally, the rapper alleged that 1501 was “keeping her from releasing new music,” per The Shade Room. Furthermore, the rapper alleged that she only received 40% of her recording income, which she allegedly had to use to pay “engineers, mixers and featured artists.”
Carl Crawford would later respond by labeling the rapper’s allegations false and adding that she signed a “great contract for a first-timer.” Additionally, Crawford reportedly voiced his frustrations about the rapper signing a management deal with Roc Nation while she allegedly owed him $2 million.
RELATED: Carl Crawford Responds To Megan Thee Stallion’s Lawsuit Against His 1501 Label, ‘Nothing Is True That She Said’
In December 2022, a judge ruled that the rapper’s 2021 album, “Something For Thee Hotties,” would count as an official album release under her contract 1501. Additionally, this meant that when Megan Thee Stallion’s $1 million suit against the record label was resolved by trial, it would officially satisfy her contract with the label and ultimately release her from duty, per The Shade Room.
In February 2023, Crawford would ultimately apologize for his long-standing feud with the 28-year-old. Additionally, the label head would apologize for “standing with Tory Lanez” as Lanez’s assault case unfolded against Megan.