Free Tha Carter V. . . .
With JAY Z set to introduce Lil Wayne as the newest member to his Roc Nation umbrella, his protege is still looking to escape Ca$h Money Records. Reports emerged this week that he officially filed an amended petition in a New Orleans court – citing that Universal Music Group, Bryan ‘Birdman’ Williams and Ronald ‘Slim ‘Williams conspired to infiltrate his Young Money imprint, withhold multiple millions in revenue and delaying the release of his Tha Carter V album.
He’s currently seeking $40 million in damages, citing that they interfered with his ability to collect earnings from helping Drake, Nicki Minaj and his YM brand over the years. This dates back to Tunechi even claiming that Birdman spent $70 million of the company’s original $100 million advance from Universal. Through the help of his legal team, he’s looking to appoint a liquidator of all company assets, a permanent injunction and the ability to release CV in any matter he chooses.
This means he would be able to release the album directly on TIDAL at any platform.
The suit also claimed that Birdman’s label has allegedly been in financial debt, unable to pay him an $8 million advance for CV, as well as well profits that weren’t awarded to Young Money. The lawsuit later cited that Universal agreed to a deal with Wayne regarding Drizzy’s solo career – citing that recordings wouldn’t be cross-collateralize against the original advances.
Well, Weezy alleged that both Cash Money and Universal entered into a second agreement behind his back, diverting money of the up-front payments with sly accounting. So, advances, royalties and various net profits were withheld without his knowledge, as he believes Birdman allegedly received under the table money from Universal. We’re unsure how this latest claim will enable all parties to resolve these major issues; but take a look at Wayne issuing a statement.
Lil Wayne and attorney Howard King give their assertion on the problem.
“By Universal claiming that it is entitled to recoup, from royalties and payments due Plaintiffs under the foregoing copyrights, and under their contracts with Cash Money, Universal has interfered with Plaintiffs’ rights to payments from Cash Money. … By continuing to make additional advances to Cash Money, Universal increased, and continues to increase, the amount Universal claims are recoupable from label performance royalties due Plaintiffs. Universal thereby seeks to preclude any payment to Plaintiffs.”
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