Jay-Z is being sued by a man who claims he is owed millions of dollars in unpaid royalties for designing the logo for his record label.
Dwayne Walker claims he came up with the design for the label, which now operates under Universal Music, in 1995 when the Roc was most prominent. According to the New York Daily News, Walker alleges Jay-Z and his partners including Damon Dash, failed to pay him the agreed amounts for the design.
Apparently, Roc-A-Fella agreed to pay Walker $3,500 for the design and entitlement to 2% royalties from all products that carry the design until 2015.
According to the lawsuit, the royalties currently total $7 million.
“The logo has become universally recognized as an iconic symbol of Jay-Z, one of the most successful recording artists in the history of popular music,” the suit states.
Walker may not have a strong case as the record label may technically own the rights to the design.
Jay-Z is yet to respond to the lawsuit. And in the Meanwhile, Jay-Z has scheduled eight concerts in the fall at the newly-developed Barclays Center in his hometown of Brooklyn, N.Y.
Jay-Z will perform from September 28-30 and October 1-6 (sans Oct. 2). Tickets for the eight concerts are economically priced at $30 and are available today (July 13) at ticketmaster.com.
It’s unclear what Jay-Z has planned for any of the eight dates, but we have a feeling that Mrs. Carter and a fellow Throne rapper Kanye West & Kim Kardashian might stop by.