According to The Hollywood Reporter, the lawsuit claims that Lil Wayne was not paid for discovering and fostering the careers of Drake, Nicki Minaj and Tyga, three artists he signed to his Young Money Entertainment imprint. Wayne’s label, along with Cash Money Records are both signed to Universal Music Group. The Lawsuit alleges that instead of using the money generated by the three artists to pay Wayne, UMG funneled that money back to themselves in order to recoup the $100 million advance they paid to Cash Money Records.
Lil Wayne’s Attonery Howard E. King:
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.
Also named as a defendant in the suit is SoundExchange, the company that is responsible for collecting and distributing royalties to their respective owners.
SoundExchange refuses to pay any of the money due to Young Money LLC and Carter individually based on Universal’s conflicting demand