(AllHipHop News) The owners of a booking agency accused of stealing $375,000 in tour proceeds during a dispute with rapper Lil Wayne have responded to the allegations in the lawsuit. Lawyers for the incarcerated rap star filed a lawsuit against Ujamma Talent Agency on August 16th in New York Supreme court. The rapper's company Young Money Touring Inc. claimed that the agency kept proceeds from the last America's Most Wanted Music Festival in 2009.At the root of the issue is a dispute over an oral agreement between Lil Wayne and Ujamma and the amount the company is owed for working on several of Lil Wayne's tours between 2008-10. "The claims in his (their) lawsuit are without merit and we will aggressively defend ourselves and our reputation against the utterly false claims," Ujaama's principle Erskine Isaac told AllHipHop.com in a statement.The lawsuit claims that Isaac and Nelson "elected to divert to Ujaama's own bank account an amount not less than $375,000, the sum that Isaac and Nelson maintain is owed to Ujaama for the tours in question. Lil Wayne was named the 4th best-earner in Hip-Hop, after he earned $20 million dollars over the past 12 months."We anxiously await our day in court, where we will present our case in full," Erskine Isaac told AllHipHop.com. "Beyond that, we cannot discuss this matter, since it's in litigation and being handled by our attorneys."Lil Wayne is currently finishing up a 12 month sentence that he started in March of 2010, for attempted illegal possession of a weapon.