Another year, another Lil Wayne lawsuit.
According to The Hollywood Reporter, Wayne is accusing UMG of withholding royalties from both his music and the artists his label Young Money has helped nurture, including Drake, Nicki Minaj and Tyga and is seeking $40 million in damages.
The lawsuit claims that UMG is repaying its own debts with Young Money profits, following a $100 million advance it reportedly gave Cash Money. Wayne has a 49 percent ownership stake in his label, with Cash Money owning the other 51 percent.
“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,” states the claim.
“The lawsuit also names SoundExchange, a non-profit performance rights body that collects and distributes digital performance royalties, as a defendant, claiming it has refused to pay out royalties due to Young Money and Lil Wayne.”
In other Lil Wayne news, hear a track from his recent collaborative ColleGrove project with 2 Chainz.