Lil Wayne sues Universal Music for $40 million
Weezy F Baby and the F is for more financial woes. Lil Wayne's attorneys have filed a federal lawsuit against Universal Music Group and SoundExchange, where the rapper is seeking at least $40 million in damages. Tunechi alleges that Universal has witheld some of the profits he's earned from his Young Money roster, like Drake, Nicki Minaj, and Tyga, who he discovered. Universal distributes Young Money, Wayne's Cash Money imprint, as the suit states that Universal once gave Cash Money a $100 million advance but the label used his profits to pay itself back for Cash Money's debt. According to a 2003 agreement, Wayne would own and receive 49 percent of all Young Money profit, while Cash Money got the other 51 percent. Wayne no longer believes he's responsible for paying Cash Money's debts.
"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," the lawsuit reads. "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."
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