Now that Baby has been named in a $40 million lawsuit from Weezy, things seem to be taking a pricey turn for those on the receiving end of his lawsuit wrath as well.
According to The Hollywood Reporter, Wayne has slammed an update to the legal battle with the Cash Money co-founder on Wednesday (July 5), naming Birdman and Universal Music Group on an amended petition requesting over $40 million in damages.
From his Young Money top-tier talents Nicki Minaj and Drake, the site reports, Wayne is also owed partial ownership and profits from their music, but has yet to receive them beneath Young Money’s Cash Money label home. In turn, Hollywood Reporter adds that Weezy has three new demands: a liquidator appointed for Cash Money assets, a permanent injunction, and finally, the freedom to handle the release of his dangerously anticipated Tha Carter V album.
The lawsuit reportedly included that Cash Money has been raking in high on debt, a situation that has kept them from handing Weezy an $8 million advance for the album as well as profits of Young Money. As for Universal Music Group, Cash Money’s parent company, a 2009 deal with Young Money concerning Drizzy's solo works held that these recordings wouldn’t be cross-collateralized against advances. Asserting a lengthy accusation in the lawsuit that Cash Money and Universal “colluded to enter into two letter agreements,” Weezy alleges that his label home has been diverting money under the table by way of its parent company, thus shelling rightfully owned royalties, advances and other net profits to him.
The resolution to all of this?
"In this particular case, it is in the best interest of the parties that either a receiver be appointed to supervise the operations of the Young Money Label joint venture,” Weezy’s amended petition states, “or in the alternative, the joint venture be adjudged terminated and a liquidator appointed..."
Your move, Birdman.
(Photo from left: Jeff Kravitz/AMA2016/FilmMagic, Kevin Mazur/Getty Images for TNT, Earl Gibson III/Getty Images for BET)
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