Cash Money Records Sued Over Royalties19 March 2012
Hip-hop star Williams and his brother and Cash Money co-founder Ronald 'Slim' Williams are accused of failing to pay $491,000 (£306,875) for various sample licensing agreements.
The debt was expected to be settled in quarterly installments, but London-based Emi bosses claim they were forced to resort to legal action when the payments ceased and the Williams brothers "ignored numerous communications from Emi regarding (Cash Money Records') contractual obligations".
The lawsuit goes on to state: "The sales of (Cash Money Records') products have far exceeded the payments that Emi has received (and) it is clear from (Cash Money's) conduct that it has no intention of honouring (our) agreement."
Representatives for Cash Money Records, which boasts a roster of artists including Lil Wayne, Drake and Nicki Minaj, have yet to respond to the lawsuit.
|Comment on this article|