EMI has taken Cash Money to court, alleging that the Lil' Wayne run company owes them licensing fees for Tha Carter III.
EMI filed the suit in U.S. Federal Court in the Southern District of New York in November, arguing that Cash Money did not stick to a previous settlement.
The older settlement, which was agreed upon on February 17, 2010, ordered that Cash Money pay $1.5 million to EMI in two installments. The first payment arrived but the second never did. EMI claims that Cash Money owes them $491,176.16—the total of the second payment with interest.
A representative for Cash Money told Billboard yesterday that the label "has been in contact with EMI and will be resolving this amicably."
An EMI rep declined to comment.
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