Lil Wayne is currently in the process of suing Universal Music Group which is the parent company of Cash Money Records which also his Young Money Records is joined with. Wayne claims that he is being held back from tens of millions of dollars that come from the success of artist who belong to hi such as, Drake, Nicki Minaj, and Tyga.
Wayne’s lawyer says at the time, Cash Money had owed Universal $100 million for advances. Wayne believes that he was shortchanged so that they could pay back the money Cash Money had accrued. A representative says,
“Ignoring Lil Wayne’s documented ownership interest in the records of these artists, Universal confiscated Wayne’s profits to repay the large Cash Money Records debt for which neither Wayne nor his Young Money Entertainment company has any responsibility. Universal further deprived Wayne of millions of dollars in SoundExchange royalties owing on account of his ownership of these records.”
Wayne is suing for $40 million. The agreement that Cash Money and Young Money had expired last June. Drake has an album coming soon which can also be another fight.
Source: Complex
