News Ticker

Weezy Suing Universal for $40M

Lil Wayne is suing Universal for $40 in damages and profits that he claims he’s owed from recordings of his Young Money roster.

The complaint reads: “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. 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.”

Howard E. King, Wayne’s lawyer said, “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, 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.”

In addition to a $40 million judgement, Wayne is seeking the rights regarding the distribution of label performance royalties. Source and Image

He must really enjoy being court.  Between the people suing him and the people he’s suing, he’ll be spending the rest of his life in front of a judge.

Follow us on Twitter @ManifestoLo, Instagram @shadystaci and Facebook at Lo Knows! Then buy Lo’s first book, “The Semester,” HERE!