Monday, March 19, 2012

Cash Money Faces Another Lawsuit

Cash Money Records is being sued by EMI because the label has reportedly failed to pay quarterly royalty payments previously agreed upon as part of a 2009 settlement between the parties. The label reportedly owes $491,000 in royalties for samples from EMI 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,” it alleges.

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