Megan Thee Stallion accuses label of draining bank accounts to avoid paying her – Music News

Megan Thee Stallion accuses label of draining bank accounts to avoid paying her – Music News

Megan Thee Stallion has accused executives at her record label of siphoning money out of the company’s bank account to avoid paying her in their ongoing legal action.

The Savage rapper, real name Megan Pete, has been locked in a legal battle with her record label 1501 Certified Entertainment for more than two years. She is suing them for royalties and to get released from her contract.

In her latest motion, her lawyers claimed that 1501’s founder Carl Crawford and his executives “dissipated millions of dollars held in 1501’s primary bank account” so that when Megan is potentially awarded a judgment by the courts, there will be no money to pay it.

“Instead of following its financial manager’s advice and holding the contested funds in reserve, 1501 has chosen to enrich itself and its consultants, leaving less than ten thousand dollars in the account,” her lawyers wrote, reports Billboard. “Based on 1501’s undercapitalization, it is highly probable that 1501 will be judgment-proof by the time Pete is able to obtain a final judgment on the merits of her claims.”

They have asked a judge to appoint a third party to take over the management of 1501’s finances until their legal battle is resolved.

Responding to the allegations, 1501’s attorneys said, “1501 strongly disagrees with the substance of Ms. Pete’s recent filings. The allegations are without merit and we are confident that 1501 will prevail on these motions and ultimately recover the substantial money that Ms. Pete owes 1501.”

The rapper’s lawyers also filed a separate motion asking a judge to summarily rule that 1501 breached their contract by denying all requests to license Megan’s music “out of spite” until the case is resolved.

A trial in the matter has been set for August.

You can view the original article HERE.

N.Y. Assemblyman Introduces ‘Peanut’s Law,’ Says Investigation Request Ignored
N.Y. Assemblyman Introduces ‘Peanut’s Law,’ Says Investigation Request Ignored
‘B.M.F.’ Big Meech Gets Porcelain Veneers After Prison Bid
‘B.M.F.’ Big Meech Gets Porcelain Veneers After Prison Bid
How TV news anchors gear up for election night
How TV news anchors gear up for election night
NBA Reopens Jaxson Hayes Investigation After TMZ Video of 2021 Incident
NBA Reopens Jaxson Hayes Investigation After TMZ Video of 2021 Incident
Nothing Left to Prove: Quincy Jones (1933-2024) | Tributes
Nothing Left to Prove: Quincy Jones (1933-2024) | Tributes
Daryl Dixon – The Book of Carol Ending, Explained
Daryl Dixon – The Book of Carol Ending, Explained
Every TV Series Coming to Major Streaming Services in November 2024
Every TV Series Coming to Major Streaming Services in November 2024
The Unloved, Part 131: Dark City | MZS
The Unloved, Part 131: Dark City | MZS
I was crying at a certain point because I felt that I had hurt him
I was crying at a certain point because I felt that I had hurt him
Gina Zollman To Perform Her Show “ORI gina LS” At The Arthur Newman Theatre, Palm Desert, CA, Sunday 11/24/24
Gina Zollman To Perform Her Show “ORI gina LS” At The Arthur Newman Theatre, Palm Desert, CA, Sunday 11/24/24
Iggy Pop announces “landmark” 2025 London and Glasgow shows
Iggy Pop announces “landmark” 2025 London and Glasgow shows
Watch Fontaines D.C. sing Antonio Vega’s ‘Tesoros’ in Spanish in Madrid
Watch Fontaines D.C. sing Antonio Vega’s ‘Tesoros’ in Spanish in Madrid
The 3 Biggest Scandals in Sports History
The 3 Biggest Scandals in Sports History
Kiss918 on the Edge: Pushing the Boundaries of Digital Casino Innovation
Kiss918 on the Edge: Pushing the Boundaries of Digital Casino Innovation
Patriots’ Maye clears concussion protocol, will play vs. Titans
Patriots’ Maye clears concussion protocol, will play vs. Titans
Silver: NBA looking at ‘other formats’ for 2025 ASG
Silver: NBA looking at ‘other formats’ for 2025 ASG
The End Trailer Arrives for 2024’s Most Audacious Film
The End Trailer Arrives for 2024’s Most Audacious Film
Taylor Sheridan is Correct: Critics Have Become Irrelevant
Taylor Sheridan is Correct: Critics Have Become Irrelevant
Silence of the Lambs Influenced Daisy Ridley’s New Movie Magpie
Silence of the Lambs Influenced Daisy Ridley’s New Movie Magpie
Emilia Clarke’s ‘The Night Before Christmas in Wonderland’ Gets Release Date
Emilia Clarke’s ‘The Night Before Christmas in Wonderland’ Gets Release Date
Banana Republic’s Holiday Campaign, Burberry’s Stock Rises
Banana Republic’s Holiday Campaign, Burberry’s Stock Rises
The Best-Dressed Stars at LACMA Art + Film Gala 2024
The Best-Dressed Stars at LACMA Art + Film Gala 2024
Beauty Made In Italy Brings A Big Crowd To The West Hollywood EDITION Hotel
Beauty Made In Italy Brings A Big Crowd To The West Hollywood EDITION Hotel
The Best-Dressed Stars At The 2024 WSJ Innovator Awards
The Best-Dressed Stars At The 2024 WSJ Innovator Awards