Thursday, December 8, 2011
Soulja suing his former manager over an "oppressive" contract
Soulja Boy is set to sue his former manager, Phillip Ransom over contract disagreements. Allhiphop reports:
According to the lawsuit, Soulja Boy was just 16-years-old when he signed the contract, claiming he was a naïve teenager.
Under his old deal, Ransom collects 5% forever, for the deals he negotiated while acting as Soulja’s manager.
Soulja Boy’s is also suing Ransom, claiming he gave up 50% of all of the rapper’s copyrights to his record label.
According to Soulja Boy, the deal he signed is “contrary to music industry custom and practice.”
Soulja Boy could have a chance since he entered into the agreement as a minor, but TMZ.com reports the deal is “industry standard.”
Ransom has filed a counter suit against Soulja Boy, claiming the rapper still owes money from the work he completed while acting as his manager.
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