Wiz Khalifa has filed a lawsuit against his former manager, Benjy Grinberg, and his record label, Rostrum Records, in an attempt to end his long-standing 360 deal with both parties.
In a lawsuit filed in Los Angeles Superior Court yesterday (May 31), Khalifa maintained that Grinberg and Rostrum acted as “faithless fiduciaries in direct contravention of their obligations to him,” according to Variety.
“An artist’s most trusted advisor is his or her personal manager,” Wiz Khalifa’s attorney, Alex Weingarten, said. “Generally, nothing good comes out when the manager decides to go into business against his artist. Unfortunately, that is the case here.”
Grinberg began representing Wiz Khalifa in 2004, when the Pittsburgh rapper was 16. The lawsuit maintains that Grinberg and his label “induced” him to enter into a “360 agreement,” which provided that Khalifa would be exclusive to Rostrum and Rostrum would share in his income streams as a songwriter and touring a merchandising.
The lawsuit argues that with the aforementioned contract, as well as a series of amendments, Grinberg failed to inform Khalifa of alternative arrangements that could be more beneficial to him, and instead, tied him to an agreement that “reached for more than a decade into virtually every aspect” of his professional life.
In 2014, Wiz Khalifa dropped Grinberg and Rostrum as personal managers. The rapper claims that he can end the “360 agreement” under the California Labor Code’s seven-year rule.
“[I am] very disappointed and surprised by today’s news,” Grinberg said in response to the lawsuit. “To witness an artist turn on you after supporting them for a number of years is very disheartening. This is an egregious lawsuit filled with inaccuracies, yet unfortunately people sometimes resort to these practices as a way of conducting business.”
It’s reported that Wiz Khalifa is seeking compensatory damages in excess of $1 million dollars, as well as punitive damages and attorney’s fees.
For additional Wiz Khalifa coverage, watch the following DX Daily:
aaaaannd his name is Grinberg… of course #CV
WIZ LOST
Good luck with that 360 deals are iron clad never go away what you get for selling your soul at such a young age just to get rich and famous quick what really sucks all his weed strains hes making his dispensarys profits all of it is split with his little 360 deal partners they funded the start of his career made him into the man he is today so now anything and everything he does in life that creates revenue period is split with his partners only way out is to buy your way out and the price is essentialy everything your worth so its a total L train sucks for wiz shouldnt of sold his soul so quick and grinded longer independant and earned his place
Word up…they’re so quick to just sell their soul (that they dont even own) just to make it quick (though they know they trash)…now they see all the money they could be getting on their own they wanna cry….the thing is they own you boy, without them forcing your wack sh!t in people’s ears you wouldnt be known….so now like son said, even if you get some puss they have the right to get some too loll….and when you try to get your soul back, they kill the body
I dont envy yall…so much money but no happy, why because a souless fun is no fun at all
Word up…they’re so quick to just sell their soul (that they dont even own) just to make it quick (though they know they trash)…now they see all the money they could be getting on their own they wanna cry….the thing is they own you boy, without them forcing your wack sh!t in people’s ears you wouldnt be known….so now like son said, even if you get some puss they have the right to get some too loll….and when you try to get your soul back, they kill the body
I dont envy yall…so much money but no happy, why because a souless fun is no fun at all
any idiot that signs a 360 deal deserves what he gets…too bad wiz…they own your ass.
Sorry Wiz guess you didn’t read the fine print in 2004 of the 360 deal contract that says we own you all you saw was the advance you dum dum typical chimp ! You will Lose this case done deal
That Lemon headed hoe took this simp for everything already now he been in a 360 deal for 12 years ? he only raps bout 2 things money and Bud he done smoked himself retarded taylor gang must have dust in they blunts this aint the 90’s how your dumb ass sign a 360 deal foh
Take your head out of your ass, assholes. Wiz was 15 and had nothing. A poor kid got fucked over in a sketchy deal and wants out. It doesn’t have to be Kendrick or Drake to get what you deserve, eat a dick
……Lupe spoke of these 360 deals but no one was really paying him any mind. Now look another artist is calling out the bullshit.
Artists with360 deals whether you believe it or not:
1. This fool wiz
2. Rick Ross
3. Drake (yes he is in one too)
4. 2 chainz ( he signed in his 30’s)
5. Chris brown
6. French Montana
7. Young thug
8. Migos
9. Tory lanez
10. Lil Wayne (360 like a motha4ka) that’s y he isn’t realizing music cause he wants out
11. Shmurda (signed b4 he go locked)
12. Lil durk
13. Nicki minaj(exclusive 360 deal)
14 JAYZ ( exclusive 360 deal thru live nation who promotes and sponsors his tours)
15. Fetty wap
16. Rihanna
17. Madonna (exclusive 360 thru live nation)
18. Kendrick???? (Under research)
19. J Cole ???? ( suspected exclusive 360 under roc nation)
20. Any other new tight close wearing ass rapper u hear all over the radio….regular major deals are a thing of the past people so all u aspiring new rap nigaz starving for fame and a deal, get on ya knees and get to sucking off these 360 deal execs cause u ain’t getting what the 90’s budgets were buddies…haha…
The uninformed and ignorant comments on this site always get me, now let’s address this situation firstly you have to look at it this way the artist is the business not the music so when a 360 contract is signed it’s the same as the artist offering equity into him (the business) like e.g.: Google, Facebook ect…for funding. Every time you get funding, you give up a piece of your company. The more funding you get, the more company you give up. That ‘piece of company’ is ‘equity.’ Everyone you give it to becomes a co-owner of your company.
The basic idea behind equity is the splitting of a pie. When you start something, your pie is really small. You have a 100% of a really small, bite-size pie. When you take outside investment and your company grows, your pie becomes bigger. Your slice of the bigger pie will be bigger than your initial bite-size pie.
if wiz don’t want to do business with dude anymore he shouldn’t have to…its really that simple.
he signed a contract, too bad…shouldn’t have signed. I have no pitty for idiots.