Lil Wayne Suing Universal Music Group For Millions
Lil Wayne has added another major record characterization to his growing legal boxing to recover millions of dollars owed to him.
The Young Money chief is suing Universal Music Group to recover $forty meg of profits from sales from the artists on his roster including Tyga, Drake and Nicki Minaj.
In a federal lawsuit filed past the rapper's attorneys, Weezy argued that UMG has been slowly paying itself back after advancing Greenbacks Money $100 one thousand thousand, but the trouble is half of that coin is his considering his artists earned most of that funds.
"With Universal'southward cognition of Lil Wayne's rights to fractional 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 Greenbacks Money," the Hollywood Reporter states. "As a issue, 100% of the profits that should take 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."
You tin can recalled that Lil Wayne is suing Cash Money Records for $51 million. According to Weezy, his deal with Birdman'southward label affects the lawsuit because he signed a deal dorsum in 2003 to divide profits and belongings 51% – 49% for his Young Money artists. The bargain came to an cease in June 2015, but Weezy is saying that he never go all of his money.
UMG is calling Lil Wayne's lawsuit baseless and vows to fight it in court.
"These claims are entirely without merit," UMG spokesperson said. "It should exist no surprise that nosotros learned of the lawyer's complaint through the news media. We don't intend to dignify this with further public comment except to say that we volition vigorously contest it and that the claim of our case will carry the day."
Lil Wayne is also suing SoundExchange, which is a 3rd political party visitor that collect royalties on behalf of artists.
Source: https://urbanislandz.com/2016/03/29/lil-wayne-suing-universal-music-group-for-millions/
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