(AllHipHop News) Rap Star G-Eazy and his startup liquor company Stillhouse claim Bacardi is trying to take over the company he co-owns with entrepreneur Bred Beckerman.
Beckerman, who is the CEO of the company, filed a $100 million lawsuit against investors in Stillhouse, which includes Quadrant Capital and Bacardi hatched a scheme to devalue and steal the company.
The lawsuit claims execs at Bacardi gained inside access to Stillhouse, which is reportedly worth around $100 million.
In the legal filing, Beckerman claims Bacardi pressured him to relinquish majority ownership and control of the company while promising to buy "all of the equity of Stillhouse, including Beckerman's, at a fair market price.'"
Instead, Brad Beckerman maintains Bacardi conspired to ruin the company and bring down its worth, by cutting off funding sources, while ruining Stillhouse's relationship with major distributors like Wal-Mart, Costco, Albertsons, and others.
A representative for Bacardi denied Brad Beckerman's claims and vowed to fight the lawsuit vigorously.
According to Bacardi, all of the blame for Stillhouse's failures lie squarely on Beckerman's shoulders.
“We made a minority investment in Stillhouse over four years ago because we believed it could be an exciting and disruptive product, and we provided the company with significant ongoing financial and other support," Bacardi said in a statement.
“Despite our substantial backing, management repeatedly failed to deliver on the company’s business plan and Stillhouse is now on the verge of bankruptcy," Bacardi said. "Under the leadership of CEO Brad Beckerman, the company has repeatedly failed to deliver the growth promised and continued to spend beyond the board-approved budgets."
In June of 2017, G-Eazy announced he was a partner and Creative Director of Stillhouse.