Wayne claims that Universal gave an advance of $100 million to Cash Money and had been using his (Young Money) profits to repay the loan to itself. According to the law suit, Wayne is seeking $40 million in damages .
The lawsuit reads: "With Universal’s knowledge of Lil Wayne’s rights to partial ownership and profits from those artists, Universal and Cash Money entered into a series of agreements which, among other things, diverted Lil Wayne’s substantial profits to repay debts of Cash Money,.As a result, 100% of the profits that should have been paid to Lil Wayne as a result of his ownership of Drake, Nicki Minaj and Tyga records have been seized by Universal to repay debts that were neither incurred by nor were the obligations of Lil Wayne."
This is also following another lawsuit Lil Wayne filed against Cash Money last year which is still pending.
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