Technicalities would point to EMI actually being correct.
At the end of January, it was reported that Kanye West was looking to get out of his contract with EMI. Over the course of his career, he's made a ton of money and it would only grow if he found a way to go independent, owning the rights to his masters. He thought that he may have found a loophole, citing "servitude" as the reason why he should be granted his release. Well, EMI has actually countersued Yeezy over the claims, pointing out that the "servitude" excuse may have worked in a California court but their contract follows New York rules.
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Over the years, Ye has signed multiple extensions with EMI but now that he wants to be free of any label drama, EMI has decided to fight back. West sued the label, saying that he should be released from his deal because it's a personal services contract lasting more than seven years, which amounts to servitude. While that would have worked on the West Coast, EMI's countersuit notes that they're following NY laws, where there is no "7-year rule," according to TMZ.
The label is looking for the court to confirm that Kanye's contract is still valid, holding him to it until he meets their terms. If they end up on top, Ye likely won't be too happy. After all, it was reported just the other day that his EMI contract forbids him from retiring.