Ja Rule's Unreleased Cash Money Clic Album Prompts Major Suit
Yahoo! Music, May 8, 2003 7:00 am PDT(5/8/03, 7 a.m. ET) -- Island Def Jam CEO Lyor Cohen and Def Jam Records--who were found guilty of fraud, copyright infringement, and breach of contract--were ordered to pay $131 million to TVT Records by a jury in New York federal court on Tuesday (May 6).
TVT Records filed the lawsuit against Cohen and Def Jam when the company pulled out of an agreement to release an Irv Gotti-produced album by Ja Rule and the Cash Money Clic in November of 2002. That's after TVT Records had spent more than $1 million to record and market the project.
Ja Rule was signed to TVT Records in the early '90s as a member of the Cash Money Clic.
TVT head Steve Gottlieb described the $131 million award to New York's Daily News. "[The ruling is] a clear signal from the jury that corporate players in positions of overwhelming dominance will be held accountable for their misdeeds," Gottlieb said.
Cohen and Island Def Jam plan to file an appeal.
For more news at LAUNCH, click here.
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