Cash Money Records is under fire for shady business dealings. Again.
Cash Money records is, once again, under fire for not paying royalties.
According to Courthouse News Service via Soul Culture, music giant EMI is suing Cash Money because the label simply ceased quarterly royalty payments they had agreed to make as part of a 2009 settlement between the parties.
Cash Money allegedly owes $491,000 in royalties for samples from EMI's catalog.
“Because Defendant has ignored numerous communications from EMI regarding Defendant’s contractual obligations, EMI once more is being forced to commence a lawsuit against Defendant to recover royalty payments,” the complaint states. “The sales of Defendant’s products have far exceeded the payments that EMI has received.”
“It is clear from Defendant’s conduct that it has no intention of honoring the Agreement,” the complaint continues
“Because Defendant has ignored numerous communications from EMI regarding Defendant’s contractual obligations, EMI once more is being forced to commence a lawsuit against Defendant to recover royalty payments,” states the complaint. “The sales of Defendant’s products have far exceeded the payments that EMI has received.”
“It is clear from Defendant’s conduct that it has no intention of honoring the Agreement.”
The turn of events is somewhat less than shocking, as the house that Slim and Birdman built has been a near-constant target for lawsuits over the past several years. Plaintiffs in previous cases have included Bangladesh, producer T-Mix, Done Deal Enterprises, producer David Kirkwood, Bridgeport Music, "Lollipop" producer Deezle, and many, many more. Also of note are high-profile controversies with Mannie Fresh and Wendy Day over money.
No comments:
Post a Comment