(AllHipHop News) Master P has settled with a company he claimed almost ruined his marijuana business.
The No Limit mogul and the Seattle-based private equity company called Privateer engaged in a partnership in March 2017.
The goal of their collaboration was supposed to produce, distribute, and market a series of cannabis products called “Master P’s Trees.”
The goal was to do a 50/50 split on promotion and production costs between the two parties.
The Ice Cream Man says that out of the blue, the company reneged on their weed deal, the actual month their first batch was supposed to hit the market.
Master P claimed Privateer never had any intention of honoring their contract. He believed that they had all alliance with him simply to have “an inside look into the urban and hip-hop demographic of cannabis users.”
As a result, the Hip-Hop businessman banged them in the head for $25 million, believing that would cover his out of pocket costs, damages he received by doing business with them, and a loss of projected income as a result of them backing out on their contractual arrangement.
The judge dismissed the case weeks after, according to GeekWire.com, the two parties made an undisclosed settlement. The outlet stated, “Miller dismissed all claims with prejudice. Privateer waived its awarded and pending sanctions against Miller, including misconduct related to his depositions.”
