Every year we are reminded that all that glitters isn’t gold. One of the hottest Rap acts in the world is now screaming foul.
As spotted on Variety Migos are now claiming they were cheated out of millions of dollars. According to the legal documents they are suing their former lawyer Damien Granderson saying he “abused his position of trust as Migos’ fiduciary from the moment he was retained as lawyer” and “cheated [them] out of millions of dollars”. The trio accuses the attorney of getting them wrapped up in a bad 360 deal with 300 Entertainment; so bad they had to pay the label millions to get out of the faulty contract.
Additionally Quavo, Offset and Takeoff allege that Granderson concealed important facts regarding Quality Control Music’s distribution deal with Capital Records. In 2018 there was an amendment to the distribution deal that he never brief the group on which “triggered an extension of the exclusive recording agreement between QCM and Migos, which Granderson knew to contain terms that were unconscionable for Migos.”
Naturally the news got back to prompting the CEO P to respond to the claims. In a very lengthy Instagram post he made it clear that he or his company did not steal from the “Stripper Bowl” rappers. “We have always practiced honest business and complete transparency from the beginning when we started Quality Control Music” he wrote. “I will not stand by and let Quality Control Music’s reputation and everything we have built and sacrificed be tarnished by allegations of unfair and unjust business practices.”
Damien Granderson has yet to respond to allegations. You can read P’s statement in full below.
View this post on Instagram
It is unfortunate that the same people that we have worked hard for,provided opportunities for, and championed for are now alleging that we have participated in any kind of immoral or unfair business practices or took advantage of them and their careers, especially while we are dealing with the death of an artist on our label that was dear to us. We have always practiced honest business and complete transparency from the beginning when we started Quality Control Music. We built this business on family values, which has been so hard to do when you are dealing with so much pride and ego. The problem that I have been struggling with in this business as black man is jealousy, hate, division, and lack of communication. I was a millionaire before I got in the music business and for me to know the sacrifices I have made for the people that I have invested in and put every dollar, blood, sweat, and tears into is nonsense. I will not stand by and let Quality Control Music’s reputation and everything we have built and sacrificed be tarnished by allegations of unfair and unjust business practices. I am a student of this game and I have watched several black record label owner’s get destroyed by the same things that I am facing right now. This is why majority of the people in this business end up in financial turmoil and ultimately failing to reach their full potential. It is hard enough to be fighting and battling with corporations and the powers that be, I am not doing it with those who I consider family. I love my artists and I love my team. Everyone has their own lawyers. I understand in this business that you are not always going to end with the people you started with. I say that to say, I am not forcing anybody to be in business with us that has a problem and cannot communicate and does not want to work as a unit. Everything is negotiable. I wish my whole team more money, more blessings, and continued success. #longlivemarlo🙏🏾