Hip-hop artist Lil Durk finds himself embroiled in a legal tussle with financial technology company, Exceed Talent Capital. The rapper, whose real name is Durk Derrick Banks, is accused of fraudulent dealings involving the rights to his music track “Bedtime.” The lawsuit, filed in a New York court, seeks a hefty sum of $12 million in damages.
The Allegations
In court documents viewed by Music Business Worldwide, Exceed Talent Capital alleges that the rapper agreed to sell them the rights to “Bedtime.” This agreement was made despite an existing exclusive contract between Lil Durk and Alamo Records, a subsidiary of Sony Music Entertainment.
“Exceed Talent Capital acquired the “Bedtime” rights for $600,000, only to discover later that Durk had previously assigned the same rights to a third party.”
This alleged double dealing has landed the rapper in hot water, with the fintech startup seeking recompense for the hefty sum it paid for the rights.
The Fallout
Exceed Talent Capital claims that the fallout from the failed deal has caused significant harm to its reputation and relationships with partners and investors. The company had already paid $450,000 of the $600,000 owed when it was notified by Alamo Records about Durk’s exclusive recording agreement. The revelation forced Exceed to return the funds invested by third parties.
The list of defendants in the lawsuit extends beyond Lil Durk. Manager Andrew “Dilla” Bonsu, Only The Family Entertainment, Inc, OTF Label, and firm TTPMG are also implicated in the legal action.
Prior Partnership with Exceed
Before this dispute, Lil Durk and Exceed had announced a partnership in October last year. The partnership aimed to offer fans a “Trenches All-Access Pass,” akin to an NFT. This pass promised access to a private Grand Theft Auto roleplay server created by the rapper, which at the time had a waitlist of over 15,000 users.
Fans were offered lifetime access, limited edition in-game wearables, and a chance to invest in shares from proceeds of “Bedtime.” However, this partnership has taken a sour turn with the recent allegations.
The Music Industry’s Response
The music industry has responded with mixed reactions to the lawsuit. Last week, it was reported that the artist formerly known as Kanye West expressed interest in buying out Durk’s contract from Sony. This comes as a significant development, given the high-profile nature of both artists.
Conclusion
As the legal proceedings continue, the future of Lil Durk’s music career and his relationships with music labels and tech companies remains uncertain. The outcome of this case could potentially have far-reaching implications for the music industry and the intersection of music and technology.
The case serves as a reminder of the importance of transparency and integrity in business dealings, particularly in industries like music where intellectual property rights are paramount. It remains to be seen how Lil Durk will respond to these allegations and what impact this will have on his career and reputation.
