Chance The Rapper had been locked in a legal battle with former manager Patrick "Pat" Corcoran for nearly six years. Now, this chapter of their story is behind them. Per an email press release, the rapper won his breach-of-fiduciary-duty case against Corcoran, who will have to forfeit up to the $1.5 million Chance paid him.
This amount reportedly comes from management fees and merch-related compensation. In addition, the court must determine what Corcoran will pay in vendor commissions. The decision comes from Judge James E. Hanlon Jr. of Cook County Circuit Court.
"I’m grateful to finally close this chapter of my life and can’t wait to eventually tell my side of the story," Chance stated. "I’m thankful to the courts and, more importantly, to God for remaining faithful."
Judge Hanlon Jr. found that the former manager violated his fiduciary duty to the Chicago MC on various occasions, improperly receiving kickbacks from merch vendors in business deals with Chance while receiving management compensation from him. The judge also ruled Corcoran must return vendor commissions and forfeit a 15% management compensation attributable to merch during the period covered in the trial. Corcoran and his Pat The Manager, LLC company must also transfer ownership of the ChanceRaps.com domain to its namesake within 14 days.
Also, Judge Hanlon Jr. ruled that Pat Corcoran breached duty of loyalty over an equity request in UnitedMasters and duty of candor over ventures related to the Ramova Theatre and the We Are The Times media project. These three deals were reportedly intended exclusively for the rapper, not Corcoran.
Who Is Pat Corcoran?
In addition, the judge questioned the former manager's credibility, reportedly arguing he "changed with the audience" and had "a habit of saying whatever the moment requires" during trial testimony. Chance also testified during the trial, along with independent witnesses and reviews of documentary evidence.
In March of this year, a jury ruled in Chance The Rapper's favor concerning two battling lawsuits from both sides over unpaid commissions and royalties. The second half of the case was more about the allegations against Pat Corcoran and concluded with this bench trial decision.
Elsewhere, Chance The Rapper might make big career changes. This recent ruling will allow him to move forward without the weight of this legal dispute.
Chance and his former manager Pat Corcoran worked together from 2012 to 2020, and reportedly never had a written contract. Corcoran had claimed a "sunset clause" entitled him to compensation for three years after their business relationship ended.
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