Jas Prince, the son of Rap-A-Lot founder J. Prince and the man credited with discovering a then-unknown Drake in 2007 or 2008, is suing the rapper’s management team for breach of contract and breach of fiduciary duty for failing to account for and pay his share of profits, and also accuses them of cheating their own client and putting “the entire Drake business in jeopardy.”
In papers filed Thursday in New York Supreme Court, Prince claims that he has not been paid in over a year and that Young Money executive Cortez Bryant, Drake’s co-managers Gerald Roberson and Derek Lawrence and their respective management companies have refused to provide an accounting of what he is owed, according to the Daily News.
Prince and his attorney James McMillan have requested that the court appoint a receiver and prohibit Drake from renegotiating his contracts until Prince is paid what he’s owed.
Prince, who says he discovered Drake on MySpace and facilitated the fateful meeting with Lil’ Wayne that led to his signing with Young Money/Cash Money, says that he and Bryant had a verbal agreement to “use their experience, influence, and relationships to persuade Drake into entering an exclusive recording agreement and an exclusive management agreement with the two of them,” and that once the deal was signed he and Bryant would split their share of the profits generated from Drake’s sales, Courthouse News reports. After their agreement, Prince alleges that Bryant formed separate management companies and signed Drake to exclusive deals with them, effectively cutting him out of the process altogether.
Bryant “had no intention of honoring his agreement,” Prince’s suit alleges, “but instead intended to oust [him] from the Drake business.”
The suit also claims that Drake himself is being cheated. The Daily News reports that attached to the paperwork is a letter from the rapper’s attorney saying that his client had not received his due royalties even though his international record sales exceeded five million units, and that he’d been offered “inexcusably delayed, incomplete, confusing and misleading” information on exactly how much he is owed.
“Neither one of them has been paid,” McMillan told the Daily News, referring to Prince and Drake.
Along with the appointment of a receiver and payment of all monies owed, Prince is seeking a temporary injunction and payment of attorney’s fees. The full suit can be viewed here.