Cash Money is in the hot seat once again.
According to Billboard.biz, EMI has sued Cash Money Records over late payments connected to Lil Wayne’s Tha Carter III album. The complaint was filed on behalf of the major by The Roth Law Firm in the U.S. Federal Court in the Southern District of New York, and claims Cash Money has failed to make payments for the licensing of undisclosed music.
As per the court documents, EMI first sued Cash Money on Nov. 29,2009 for “direct, contributory and vicarious inducement of copyright infringement, unfair competition and breach of contract,” in a case that was settled just months later on Feb. 17, 2010. As part of that settlement, Cash Money paid $1.5 million, as the first of two payments, and the second one was due within 180 days. However, CM has failed to make the second payment.
Cash Money now owes $392,940.23, which is covered by a late payment penalty fee of 1.25 in damages, which brings the total to $491,176.16.
A Cash Money rep told XXLMag.com that “Cash Money Records has been in contact with EMI and will be resolving this amicably.” —Mariel Concepcion