Friday, March 16, 2012 10:04 AM PT
Where's the Cash Money? EMI Asks

     (CN) - Music giant EMI says Cash Money Records, the label that is home to rappers like Lil Wayne, Drake, and Nicki Minaj, owes nearly half a million dollars in royalty payments from a settlement agreement.
     In November 2009, EMI filed a copyright infringement lawsuit against Cash Money in federal court in Manhattan. The licensing dispute resulted in a settlement agreement where Cash Money said it would pay royalties for the EMI songs Cash Money's artists sampled on their own albums.
     But EMI says it had to sue again because Cash Money stopped making its quarterly royalty payments.
     "Because Defendant has ignored numerous communications from EMI regarding Defendant's contractual obligations, EMI once more is being forced to commence a lawsuit against Defendant to recover royalty payments," the complaint states.
     According to the parties' agreement, EMI is entitled to a multiplier penalty of 1.25, which means Cash Money owes more than $491,000 in damages.
     "The sales of Defendant's products have far exceeded the payments that EMI has received," the complaint states.
     "Once EMI realized that Defendant owed more money under the Second Payment it notified Defendant and explained that due to the increased sales, EMI was entitled to additional compensation," the complaint continues.
     "It is clear from Defendant's conduct that it has no intention of honoring the Agreement."
     EMI is represented by Richard Roth of New York City.