Sued for ending their business relationship.
Lil' Wayne is the latest artist to be sued by his former manager for ending their business relationship. White Tides Entertainment Group sued Dwayne Carter, known as Lil' Wayne, his Young Money Touring and the rapper's agent and business manager, Madison Smallwood Financial Group, today (April 5) in a Florida federal court.
The complaint alleges that in June 2005, White Tides and Lil' Wayne entered a management agreement. Under that contract, the rapper had a one-time opportunity to end the relationship within 30 days after the end of the first year if he didn't earn at least $1.5 million. Otherwise, he could only end the agreement if the manager breached the agreement and failed to cure that breach within 30 days after receiving written notice, the suit says.
White Tides claims that Lil' Wayne attempted to "verbally terminate" his contract last December and that the defendants are not paying commission to the company. The manager wants an accounting and commission due.
"It's unfortunate that it has come to this for all parties involved," says Horace Madison with Madison Smallwood. "I think very quickly and very clearly it will become obvious that this is an error in judgment on Melissa [Philipian]'s part, the manager for White Tides. There's no basis for the lawsuit against us. We just collect revenues; we're the business managers who handle the finances for Wayne, and at the end of the day we follow our client's instructions."
Lil' Wayne and Young Money Touring could not be immediately reached for comment. Richard Wolfe with Wolfe & Goldstein in Miami is representing White Tides.
Mario, Matisyahu and the Killers are among other artists currently in legal disputes with former managers.