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Lil Wayne Sues Universal Music for $40 Million

http://www.thefinalemagazine.com/2016/04/lil-wayne-sues-universal-music-for-40-million/
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Rapper #LilWayne says he has been duped out of millions of dollars from Universal Music Group after discovering and mentoring big music acts.

In a suit filed by the producer’s attorneys on Monday, the rapper, whose real name is Dwayne Carter Jr., is suing UMG and SoundExchange – a nonprofit that collects and distributes digital performance royalties on behalf of copyright owners – claiming the companies owe him $40 million in royalties for discovering and nurturing hip-hop acts Nicki Minaj, Drake and Tyga.

According to The Hollywood Reporter, the complaint, issued by Howard E. King, states: “With Universal’s knowledge of Lil Wayne’s rights to partial ownership and profits from those artists, Universal and Cash Money entered into a series of agreements which, among other things, diverted Lil Wayne’s substantial profits to repay debts of Cash Money. As a result, 100% of the profits that should have been paid to Lil Wayne as a result of his ownership of Drake, Nicki Minaj and Tyga records have been seized by Universal to repay debts that were neither incurred by nor were the obligations of Lil Wayne.” It continues saying that Carter’s label, Young Money, is a joint venture with Universal’s Cash Money designed to manufacture, promote, distribute and exploit performances of new artists Carter discovered and signed to his label