Cash Money records were yesterday April 17th, slammed with a lawsuit by Aspire Music group over failure to remit royalties and copyright earnings from Drake’s first six albums.
Aspire whom first discovered Drake before handing him unto Young Money records (an off shot off Cash Money records) is suing the parent company for breach of contract, breach of good faith and fair dealing. Cash Money co-owners Bryan “Birdman” Williams, Ronald “Slim” Williams as well as Young Money entertainment are defendants in the suit.
Aspire alleges that despite signing an agreement with Cash Money records in 2009 so Drakecan create music with the label in exchange for one third of the net profits from his first six albums and one-third of the profits from his masters of those same albums plus monthly accounting and payments, Cash money never paid out any profits or royalties and that monthly accounting wasn’t consistent.
Aspire has now asked the court to conduct a full combing of Cash Money’s books to determine just how much money is owed.