It appears that Cash Money has found itself in more legal trouble. According to Baller Status, the label owes over half a million in royalties to EMI. Get more after the jump.
Baller Status – According to Courthouse News Service, music giant EMI filed a lawsuit against Cash Money Records in a Manhattan court recently, alleging that the label has failed to pay royalties for various samples they’ve used from their catalog.
Cash Money owes more than $491,000 in royalties, and has ceased making quarterly payments to EMI. So, they were forced to file suit, according to court docs.
“Because [Cash Money Records] has ignored numerous communications from EMI regarding [Cash Money’s] contractual obligations, EMI once more is being forced to commence a lawsuit against [Cash Money Records] to recover royalty payments,†the complaint states. “The sales of [Cash Money Records’] products have far exceeded the payments that EMI has received.
“It is clear from [Cash Money’s] conduct that it has no intention of honoring the Agreement,†the complaint continues.
The lawsuit from EMI is just the latest in a long list of legal actions taken against the label for the exact same complaint over the years, specifically from producers who claim they were never compensated for their contributions to various Cash Money releases.
Previous artists who’ve filed suit include producer Bangladesh, producer T-Mix, Done Deal Enterprises, producer David Kirkwood, Bridgeport Music, “Lollipop†producer Deezle, and others.
And they call themselve millionaire’s? Lofl
How can you do biz so backwards? Get liabilities to a minimum, then flaunt your riches. Smdh.
damb he making 5 milli bets and cant pay off haf a million somthing is teribly wrong