Megan Thee Stallion is in the middle of a legal battle with her label 1501 Certified Entertainment over unpaid royalties and to be released from her contract. Ms. Stallion recently submitted new legal filings involving 1501’s bank accounts. According to Megan, the label is running dangerously low on funds, but only because 1501 chiefs Carl Crawford, J. Prince, and Gee Roberson have siphoned up the money to avoid paying her.
The documents show that the primary bank account associated with 1501 had less than $10,000 in it, despite much more than that in deposits. The precise amount is redacted from the documents that were shown to the press, but it’s reportedly in the millions, and Megan says some of the money should be hers. So she’s asking the judge in the case to appoint a neutral third party to take over the financial operations of the company.
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The lawsuit between Megan and 1501 has been going on for over two years now. She says her contract with the label is unfair, leaving her with 40% of the proceeds of her recorded output but forcing her to take on expenses involved in recording, including payment for featured artists. That leaves her with a sliver of the revenue from her hit songs, and at one point the label was preventing her from releasing any new material at all when she was attempting to renegotiate her contract.
Two years ago she was reportedly suing 1501 for $1 million in damages, accusing the label of other assorted misdeeds (including an online smear campaign against her), and the matter still hasn’t been settled.
The new filings allege that Crawford, Prince, and Roberson are the only ones actually making money from 1501 coffers, but it’s now up to a judge to determine whether there’s any legal action that should be taken.
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