Meghan Thee Stallion has said goodbye to her record label after both sides reached an amicable settlement in their years-long legal battle.
The legal dispute began when the twerk queen and talented rapper accused the record company of locking her into an unprofitable contract in 2018. The conflict escalated into a dispute over one of her albums and eventually led to a lawsuit.
Megan Thee Stallion And 1501 Certified Entertainment Finally Reaches A Ceasefire
Megan has reached a settlement to end her ongoing legal battle with her former record label, 1501 Certified Entertainment. After more than three years of legal wrangling over what he deemed an “unfair” contract, 1501’s lawyer announced that the two sides had reached a confidential settlement to resolve their legal differences.
With this solution, the “Cognac Queen” artist and the company can begin their separation amicably. While the specific terms of the settlement, including whether any financial agreement has been reached, remain undisclosed, the label’s president, Carl Crawford, wrote in a statement:
“Both Megan and 1501 are pleased to put this matter behind them and move forward with the next chapter of their respective businesses.”
In the same note, he stated that he and his company “wish Megan the best in her life and career.” Megan has been engaged to Carl and 1501 in a three-year legal dispute, arguing that she was tricked into signing an unfair record deal in 2018, which was far below industry standards.
His perspective on the deal changed when he entered into a new management deal with Roc Nation in 2019, where he received legal counsel who helped him realize the inadequacies of his previous deal.
The initial dispute over the record deal escalated into more legal battles when the “Savage” hitmaker filed another lawsuit in February 2022. For this suit, he asserted that 1501 failed to categorize his 2021 project, “Something for Thee Hotties,” as “ album.”
Per Billboard the difference is significant because his contract required him to produce three albums. 1501 responded with a countersuit, arguing that the project only had 29 minutes of original material.
Megan continued to pursue legal action in August 2022, filing another complaint seeking over a million dollars in damages. The complaint alleges that 1501 has “systematically failed” to pay adequate royalties and has “improperly authorized excessive marketing and promotional charges.”
In response, 1501 hit back at these accusations, referring to the damages claim as “baseless” and asserting that the award-winning rapper is owed “millions of dollars.” He recently hinted at a possible settlement with coy during an Instagram live stream, where he said, “I don’t have a label right now.”
Grammy Award Winner Accuses Label of Some Fraudulent Activities
MEGA
In April, The Blast confirmed that Megan was after a court order to stop spending by 1501 during the gay period of their legal battle. He claimed that Carl deliberately spent the company’s funds to avoid paying his damages.
In the motion filed, the MTV Music Video Award winner declared that 1501’s main account had less than $10,000, and although money had been deposited, it was not accurately reflected. This action led him to believe that the missing funds benefited Carl and two other individuals associated with the label, namely Gee Roberson and J. Prince.
Meghan and her legal team scrutinized the contract that bound her to 1501 during court proceedings, and the rapper shared her perspective on the matter via social media. He admitted, “When I signed, I didn’t know what was in my contract. I think I’m, like, 20.”
The contract stipulates that Meg will receive 40% of the recorded profits while 1501 will retain the remaining 60%. The figure allocation is clearly different from the industry standard of a 50/50 split, and that doesn’t sit well with the “Body” artist.
Meanwhile, Carl clarified his stance on the situation a few months ago, stating that he had no intention of engaging in a public dispute with his former recipient. He acknowledged past issues in the company’s representation and conveyed his commitment to improve the situation. He stated, “I have to take responsibility for anything that happened here in 1501.”
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Source: thtrangdai.edu.vn/en/
