Jas Prince reportedly settles $11 million lawsuit over Drake's royalties
Jas Prince has reportedly settled the $11 million lawsuit he brought against Cash Money Records over royalties he was owed from Drake’s earnings.
According to The Jasmine Brand, Jas Prince and Cash Money will be working out an undisclosed amount in their settlement after a lengthy legal battle that has been going on since Jas Prince filed against the label last year.
Jas Prince has claimed that he has only received $2 million from the royalties he was owed, despite the fact that, according to him, Drake has made Cash Money $40 million.
According to claims in the lawsuit, Jas Prince discovered Drake in 2007 and signed him to Aspire Music Group. Then, Cash Money approached him with an offer to sign Drake to their label. The deal was that Jas Prince and Aspire would receive 22 percent of all Drake’s advances, net profits and other advances. However, Jas Prince said that he has not seen that share.
Jas Prince has also separately filed suit against Lil Wayne’s manager Cortez Bryant, the founder of Aspire, claiming that he was not properly paid from the deal with Cash Money. Jas Prince has since said in court papers that he and one of the two shareholders of Aspire have reached an agreement.