It seems one liquor brand is claiming that Hip-Hop icon and mogul, Jay-Z, is doing dirty business.
According to TMZ, Empire Investments, a subsidiary of Bacardi, the Roc Nation, wants to sell his D’Usseé venture with them but will be breaking their oral agreement.
Jigga has filed a lawsuit against them, but they have countered saying, both parties had a “handshake deal” in December of 2021 that Empire would buy out the rapper, whose real name is Shawn Carter, 50 percent stake in the cognac line.
Documents obtained by the outlet claim the 4:44 chart-topper “abruptly reneged on its agreement and doubled its demanded valuation.”
Empire/Bacardi says Jay is trying “inflate” the value of the company to get more money out of them.
The multiple Grammy award-winner says that Bacardi is trying to devalue the brand to get the company for a lower price.
He, through his SC Liquor company, is now asking the company to open up their books and on top of the 800 pages of financial records he already has, to accurately report how much the brand is worth.
The company says they have already given him what he needs and that the documents his team requests are financials for their other businesses.
They’re not doing that.
Bacardi and Jay’s lawyers will be in Court on Friday, November 4th.
