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Lil Wayne Reportedly Sues Cash Money Records

NEW YORK (CelebrityAccess) — Rapper Lil Wayne has reportedly sued his former label Cash Money Records, seeking $51 million in over allegations that the label did not pay $8 million due for a record he delivered last month.

According to the Associated Press, Wayne's lawsuit asked a federal judge to nullify his contracts Wayne has held with Cash Money since November 1998.

Wayne contends that his relationship with the label has soured in recent years, and that the label has failed to deliver on contractual requirements such as monthly accounting statements and a timely payment of owed profits.

Wayne, through the lawsuit, also claimed that Cash Money failed to pay Wayne a a 49 percent share of net income derived from his ownership stake in the label for the sale of solo recordings by his label mate Drake.

A rep for Cash Money did not respond to the AP's request for comments. – Staff Writers