Lil Wayne is suing Universal Music Group for a reported $40 million.
Lil Wayne has been on the receiving end of several lawsuits over the past couple years, but this time around the tables are being turned. Reports are surfacing all over the web tonight that Lil Wayne is suing Universal Music Group for royalties he’s apparently owed for profits gained by Drake, Nicki Minaj, & Tyga.
Wayne is claiming that he been shorted millions from his work discovering and nurturing the multi platinum artists, with Universal Music Group paying itself instead of shelling out royalties. According to Wayne’s lawsuit, Universal has diverted tens of millions of dollars of his profits to repay itself for the $100 million it advanced to Cash Money.
“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,” states the complaint. “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.”
According to The Hollywood Reporter, Lil Wayne is suing for $40 million in damages in the lawsuit. And for what it’s worth, this lawsuit is entirely different from the $51 million Wayne is suing Birdman & Cash Money.
If interested, read more about the in-depth lawsuit here.