“Black and Yellow” rapper Wiz Khalifa is suing former manager (Benjy Gringberg) and label (Rostrum Records) for 1 million dollars and demands to be released from his 360-deal that he signed at sixteen. A 360-deal means that the record label not only get a percentage of the record sales, but they also receive an income from streaming, touring and other such publicity like merchandise and television/movie appearances.
According to Wiz, Gringberg and Rostrum Records behaved like “faithless fiduciaries [trustees] in direct contravention of their obligations”. Under the Californian Labor Code, Wiz is able to leave the label after seven years of signing the contract, which was forged in 2004.
If Wiz is successful, he will receive some compensation for the money he feels he has been denied, and will be able to produce music with a record label and manager who are in it for the music, rather than financial gain.
#Peace.Love.WizKhalifa
