Wiz Khalifa is suing former manager Benjy Grinberg and his record label Rostrum Records because the rapper wants out of a 360-deal that he signed at the height of his career. These are the notorious deals new artists are warned to stay away from.
According to Variety, the lawsuit states Grindberg, who is the founder and president of the label, profited off “self-dealing.” In the lawsuit Khalifa claims he was influenced by Grinberg and his label to sign the 360 deal, which would include Khalifa only being profitable to Rostrum Records, and they would share in his benefits from songwriting, touring and merchandising, but Grinberg failed to include his side arrangements that would put extra money in his pocket. The Pittsburgh rapper signed to the label in 2004 when he was 16 and likely had very little knowledge of the industry, which gets most young artists in a bind.
Alex Weingarten, Khalifa’s attorney, said in a statement: “An artist’s most trusted advisor is his or her personal manager. Generally, nothing good comes out when the manager decides to go into business against his artist. Unfortunately, that is the case here.”
Khalifa cut his affiliation with Grindberg and the label back in 2014. Grinberg released a statement saying he was “very disappointed and surprised by today’s news. To witness an artist turn on you after supporting them for a number of years is very disheartening. This is an egregious lawsuit filled with inaccuracies, yet unfortunately people sometimes resort to these practices as a way of conducting business.”
Were hoping everything works out for Wiz. He is seeking compensatory damages in excess of one million dollars, punitive damages and attorney’s fees.
