Jay-Z pours Bacardi a glass of lawsuits over claims of underpayment
Los Angeles, California - Jay-Z is trying to sell his shares of D'Ussé cognac, but the rapper is now suing Bacardi claiming they are trying to underpay him on the sale.
In 2012, HOV teamed up with Bacardi to sell a new brand of cognac called D'Ussé, and their deal was for an even 50% split.
Now that the star is trying to sell his stake in D'Ussé, Jay-Z claims the company is not being honest about their earnings in an attempt to lowball the sale.
According to court documents obtained by TMZ, the rapper's company SC Liquors is suing Bacardi, and is requesting financial books and records from the company to help ensure that both parties "negotiate in good faith."
They are also seeking access to all other pertinent figures, such as inventory, locations of warehouses storing the brand, and details of the inventory process.
SC Liquors claims that Empire Investments Inc., Bacardi's subsidiary, is attempting to "stall and stonewall" their efforts to retrieve the information.
The documents include a figure proposed by Bacardi, that was redacted by the rapper's legal team, which Jay described as "well below" a fair value.
Jay-Z may have a rough legal battle ahead of him, but hopefully he will get whatever it is that he's owed.
Cover photo: Collage: Roy Rochlin/GETTY IMAGES NORTH AMERICA/Getty Images via AFP & JUSTIN TALLIS / AFP