“Ignoring Lil Wayne’s documented ownership interest in the records of these artists, Universal confiscated Wayne’s profits to repay the large Cash Money Records debt for which neither Wayne nor his Young Money Entertainment company has any responsibility,” said a representative for his lawyers in a statement. “Universal further deprived Wayne of millions of dollars in SoundExchange royalties owing on account of his ownership of these records.”
According to a report from The Hollywood Reporter, Wayne is seeking $40 million. The agreement between Young Money and Cash Money expired last June, and as such, Drake’s upcoming album could be subject to political infighting over the profits.
This lawsuit is separate from the $51 million suit he brought against Cash Money’s Birdman last year. The pair have gone through great lengths to bring their infighting back under wraps recently, but much remains unsettled in that case as well.