In his latest legal battle, Lil Wayne is taking Universal Music Group to court saying that the company owes him tens of millions of dollars for his work with Nicki Minaj, Drake and Tyga.
According to The Hollywood Reporter, Lil Wayne, born Dwayne Carter Jr., filed a lawsuit today (March 28) in the state of California claiming that UMG did not pay him for discovering and mentoring the three artists. He is seeking $40 million in damages and unpaid profits.
UMG reportedly funneled the money that was owed to Wayne back to itself to pay for the $100 million advance it paid to Cash Money Records, the label that Lil Wayne, Nicki Minaj, Drake and Tyga are signed to. Cash Money is signed to Universal.
“Universal should be grateful and respectful to Lil Wayne for the millions of dollars in distribution fees and profits they have earned on the artists he brought to the company,” Lil Wayne’s lawyer, Howard E. King, says in a statement, “instead of seizing all of his profits on those artists in a desperate attempt to recoup the tens of millions of dollars they are owed by Cash Money Records.”
Lil Wayne signed his Young Money imprint, which houses the three rappers and himself, to Cash Money in 2003. The case documents say the two parties agreed the profits “would be divided 51% – 49% between Cash Money and Carter, and ownership of all the Young Money Label property, (e.g., master recordings, copyrights, intellectual property, good will) similarly would be owned 51% – 49% between Cash Money and Carter, respectively.”
The deal expired June 4, 2015 after multiple extensions.
SoundExchange is also named as a defendant in the case. The company is in charge of collecting and distributing royalties to the respective owners. Wayne claims the nonprofit is not doing its job.
“SoundExchange refuses to pay any of the money due to Young Money LLC and Carter individually based on Universal’s conflicting demand,” the lawsuit says.
Lil Wayne also has an ongoing lawsuit against Cash Money Records for $51 million, claiming the label is withholding Tha Carter V. He has threatened to take Nicki Minaj and Drake away from the parent label.
For additional Lil Wayne coverage, watch the following DX Daily:
That must be his last album and they want him to renegotiate. Baby is like the father off the show Shameless.
” The business end of this s**t can turn your friends against you.” Should’ve been adding up instead of pouring up!!!
I do this for my culture
To let them know what a nigga look like when a nigga in a roaster
Show them how to move in a room full of vultures
Industry is shady, it needs to be taken over
Label owners hate me, I’m raising the status quo up
I’m overcharging niggas for what they did to the Cold Crush
Pay us like you owe us for all the years that you hoed us
We can talk, but money talks, so talk more bucks
I do this for my culture/
To let them know what a nigga look like when a nigga in a roaster/
Show them how to move in a room full of vultures/
Industry is shady, it needs to be taken over
Label owners hate me, I’m raising the status quo up/
I’m overcharging niggas for what they did to the Cold Crush/
Pay us like you owe us for all the years that you hoed us/
We can talk, but money talks, so talk more bucks
it’s “rossa” as in Ferarri Testarossa.. not “roaster”.. ya bisch
How can you let a nonprofit take care of money ? That makes no sense
Well king push won
Free weezy
Dude just needs to get his ass to work and figure his shit out and stop spending money faster than hes making it all you ever hear is lil wayne suing this person lil wayne being sued by that person oh now little waynes suing someone again great sign your career nearing an end if you dont get it together
Man you know his life and finances so well
Considering hes had a home forclosed on property repo’d and hasnt put a decent album out in how long? And how much does he drop at the clubs every night and whats he riding around in how many home payments how much does he pay for his entourage? That shit adds up after years of not working plus taxes trust me take it from a business owner and considering hes always trying to press lawsuitd to get money or having them pressed against him shows he obviously doesnt have alotta cash to throw around because he didnt collect his debts and hold up his ends on agreements as he shouldve so wheres all that money? In other peoples pockets not his
Wild rumor has it that he fails to pay his producers.
When was the last time this dude had a good album? He’d cant make good music to save his life.