Cash Money Slapped With Lawsuit for Unpaid Royalties
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Cash Money Records made headlines over the weekend, but not for the best of reasons. Music Giant EMI has filed a lawsuit against Cash Money, claiming the label has failed to pay royalties, which total around $500,000.
Back in 2009 Cash Money agreed to pay a 1.25 multiplier penalty to EMI for sampling their songs on Cash Money records. However, EMI has had to sue the label again after they stopped paying its quarterly royalty payments.
EMI's complaint against Cash Money states: "The sales of Defendant's products have far exceeded the payments that EMI has received. Once EMI realized that Defendant owed more money under the Second Payment it notified Defendant and explained that due to the increased sales, EMI was entitled to additional compensation. It is clear from Defendant's conduct that it has no intention of honoring the Agreement."
