Rapper, Lil Wayne has finally come out victorious in his longstanding legal dispute against Birdman, Cash Money Records and Universal Records.
Recall that the two have been in a legal battle for a long period of time with Wayne accusing Birdman of owing him tens of millions of dollars, including an $8 million advance for “Tha Carter V,” plus $2 million once the album was finished.
As some point, Wayne threatened to terminate his Young Money label, which is under the Cash Money/Universal umbrella.
According to court documents reviewed, Wayne’s attorney, Howard King, filed a notice with the court on May 23 that all sides are ready to dismiss the lawsuit.
Sources say Universal wrote a big check to settle the suit and none of the money came from Birdman. The amount, is “well over $10 million.”
Insiders also revealed that Universal was comfortable with the massive payment because they believe they will recoup the profits from Drake and Nicki Minaj going forward a major part of what Wayne was suing over.
As part of the arrangement, Lil Wayne is now officially done with Cash Money and the infamous “Tha Carter V” album will now be put out by Universal.