Lil Durk Hit With $12 Million Lawsuit By Fintech Company Over Alleged Fraud
Lil Durk is facing a new lawsuit that claims he allegedly attempted to sell the rights to the same song twice.
Court documents obtained by Music Business Worldwide show that Exceed Talent Capital, a fintech startup company, filed a lawsuit with a New York Court on Wednesday (December 6). The complaint states the Chicago rapper had agreed to sell the rights to his song “Bedtime” to them despite having an exclusive contract with Sony Music Entertainment’s Alamo Records.
The startup says they acquired the rights to the song for $600,000 only to discover later that Durk had already “assigned to a third party the exact same rights.”
Lil Durk Says Chicago Shouldn’t Be Singled Out As Violent
Last October, Durk and Exceed announced a partnership to offer fans a “Trenches All-Access Pass,” which planned to offer access to a private Grand Theft Auto roleplay server built by the rapper. Music Business Worldwide reports that fans were offered lifetime access, limited edition in-game wearables, and first dibs on shares from proceeds of “Bedtime.”
Exceed claims it was notified in May by Alamo of Durk’s exclusive recording agreement and that distributor Empire nor they had the rights to assign any interest in any revenue streams generated by the song. The fintech company says as a result, they were “forced” to return the funds invested by third parties which allegedly led to the damaging of relationships with partners and investors as well as to their reputation.
Exceed Talent Capital is seeking $12 million in damages, which is the total they say they’ve incurred over the failed deal.
