Wiz Khalifa Suing Former Manager, Label Over 360 Deal
Wiz Khalifa started off independent with Rostrum Records, but now, as a global superstar, he wants out of his 360 deal with the label and former manager.
According to Variety, the rapper has filed a lawsuit against Rostrum Records and his former manager Benjy Grinberg, claiming he profited at his expense by self-dealing.
In court docs, Wiz alleges that Grinberg and Rostrum acted as "faithless fiduciaries in direct contravention of their obligations to him".
"An artist's most trusted advisor is his or her personal manager," Wiz's attorney, Alex Weingarten, said. "Generally, nothing good comes out when the manager decides to go into business against his artist. Unfortunately, that is the case here."
Grinberg and Wiz entered into an agreement back in 2004, when the rapper was just 16. The lawsuit claims that Grinberg and his label "induced" Wiz into a "360 agreement," in which the rapper would be exclusive to Rostrum and the label would share in his income streams as a songwriter and touring a merchandising.
Wiz claims Grinberg failed to inform him of alternative agreements that tied him to both Grinberg and Rostrum for what "reached for more than a decade into virtually every aspect" of his professional life.
The rapper dropped both Grinberg and Rostrum as personal managers in 2014, and argues that he's now allowed to terminate the "360 agreement" under the California Labor Code's seven-year rule.
"[I am] very disappointed and surprised by today's news," Grinberg said in response to the lawsuit. "To witness an artist turn on you after supporting them for a number of years is very disheartening. This is an egregious lawsuit filled with inaccuracies, yet unfortunately people sometimes resort to these practices as a way of conducting business."
Wiz is seeking damages in excess of $1 million dollars, as well as punitive damages and attorney's fees.