Lil wayne is being sued over label’s domain name, YoungMoney.com.
According to TMZ.com, Weezy’z camp agreed to pay a personal finance company Young Money Media $600,000 for the domain in 2011, but the rapper has yet to pay up the full amount.
The sale agreement included a clause that allows Young Money Media to reclaim the domain if Lil Wayne didn’t make the payments on time. So, the company has filed a lawsuit to do just that … because the rapper still owes $250,000 and is refusing to hold up his end of the deal.
Since purchasing YoungMoney.com, the domain has been used to promote Young Money artists like Nicki Minaj, Drake and Tyga, as well as YM-related merchandise.
Wayne has already forked over $350,000 to acquire the domain name.