Wiz Khalifa filed a lawsuit against his former manager Benjy Grinberg and his label Rostrum Records. The suit aims to terminate a 360 deal that Wiz signed at the beginning of his rap career. Allegedly Grinberg profited off of self-dealing.
The suit, which was filed in Los Angeles Superior Court on Tuesday, claims that Grinberg and Rostrum acted as “faithless fiduciaries in direct contravention of their obligations to him.”
“An artist’s most trusted advisor is his or her personal manager. Generally, nothing good comes out when the manager decides to go into business against his artist. Unfortunately, that is the case here,” Khalifa’s attorney Alex Weingarten told Variety.
Grinberg began representing Khalifa in 2004, which is when he entered into the 360 deal. These types of deals allow the record label to get a percentage of an artists touring, merchandising, and every other income stream.
The lawsuit claims that Khalifa’s contract had a series of possible amendments that would have been more beneficial to him. However, he was never made aware of these possibilities.
Grinberg released a statement saying he was “very disappointed and surprised by today’s news. To witness an artist turn on you after supporting them for a number of years is very disheartening. This is an egregious lawsuit filled with inaccuracies, yet unfortunately people sometimes resort to these practices as a way of conducting business.”
Khalifa is seeking damages in access of $1 million.
SOURCE: Complex | IMAGE CREDIT: Getty
Wiz Khalifa Is Suing His Former Record Label For $1Million was originally published on theurbandaily.com