"According to legal documents obtained by Tmz.com, Young Money bosses had to pay off the amount in instalments or they would forfeit the name and it would return to the seller."
Los Angeles, July 8 - Rapper Lil Wayne has been hit with a lawsuit accusing him of failing to make payments for his record label's website.

The Lollipop hitmaker founded the Young Money Entertainment record label in 2005 and the website youngmoney.com already existed to promote a young entrepreneurial business.

The owners of youngmoney.com sold that web address to bosses at Wayne's label in 2011 for $600,000, so the company could promote its artists and music releases, reports contactmusic.com.

According to legal documents obtained by Tmz.com, Young Money bosses had to pay off the amount in instalments or they would forfeit the name and it would return to the seller.

Now the website's original owners have launched legal proceedings to recover the domain name, alleging they are owed an outstanding balance of $250,000.


comments powered by Disqus
Read more on:
 

PERMALINK

http://www.nerve.in/news:2535002386504
You can quote the permanent link above for a direct link to the story. We do not archive or expire our news stories.


STORY OPTIONS
  Email this story to a friend
  XML feed for Americas


 
COPYRIGHTS INFORMATION
All rights reserved for news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.
Contact Nerve Staff for any feedback, corrections and omissions in news stories.
 

All rights reserved for the news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.