Rapper Lil Durk is allegedly facing a lawsuit for alleged fraud for allegedly granting alleged song rights to two alleged separate companies. According to Billboard, the alleged lawsuit was filed this past Wednesday, December 6 in a Manhattan federal court. Fintech firm, Exceed Talent Capital, alleges that Durk allegedly agreed to grant the firm with alleged recording royalties from his song, “Bedtime” despite allegedly signing an an alleged exclusive deal with Sony’s Alamo Records.
The Fintech firm’s lawyers also detailed allegations on the alleged lawsuit: “Despite defendants’ unambiguous contractual representations and warranties regarding their rights in the Banks recording, Exceed has now learned that Banks previously had assigned to a third party the exact same rights.” Additionally, they also detailed that the “defendants have [allegedly] failed and [allegedly] refused to acknowledge any [alleged] responsibility for their [alleged] intentional misrepresentations and [alleged] material contractual breeches, [ … ], Exceed was [allegedly] compelled to [allegedly] bring the [alleged] present action to obtain [alleged] legal redress.
The alleged lawsuit against Lil Durk allege that Durk allegedly caused Exceed Talent Capital with an alleged amount of more than $12 million in alleged damages. As a response to Lil Durk’s alleged fraud, Exceed allegedly agreed to pay the rapper with an alleged amount of $600,000 for the recording rights to Durk’s song, “Bedtime.” Exceed also allege that they allegedly wanted to package the rapper’s song reportedly into a fractional investment vehicle. Moreover, the fractional investment vehicle would allegedly allow investors to allegedly buy the right to receive alleged ongoing royalties to Durk’s song.
Lil Durk has since reportedly commented on Exceed’s royalties investment product, claiming that it has helped in the success to connect him with fans. However, in May of this year, Exceed allegedly receive an alleged cease-and-desist from Alamo Records. Alamo Records allege that Lil Durk “[allegedly] signed to an [alleged] exclusive recording agreement.” The record label also alleged that the rapper allegedly did not possess the right to sell his recording royalties to anyone. Furthermore, it is Alamo Records that allegedly have the alleged rights of selling recording royalties, reportedly detailed in an agreement between them and the rapper in 2021.
Exceed also allege that the rapper allegedly either fixed the alleged situation of allegedly selling record royalties, or allegedly refunded an alleged amount of $450,000. Lil Durk allegedly ignored the alleged request to not sell record royalties. Hence, the alleged lawsuit against Lil Durk for his alleged fraud for allegedly selling recording royalties allegedly forced Exceed to allegedly cancel the sales of Lil Durk’s music. Furthermore, Exceed allegedly returned the funds allegedly invested by alleged third party, only causing alleged damage to Exceed’s reputation as a firm and its relationships with other business partners and investors.
In August of this year, Lil Durk called his fans out for allegedly stealing merch after his concert ended following false reports that there was a man who carried a gun during the rapper’s performance.
Leave a Comment