There’s no doubt that Jay-Z has proven himself to be a smart businessman, but as of late, one of his business ventures may have gotten him in hot water.
New York clothing designer, Dwayne Walker, says that Jay-Z and Roc-A-Fella owe him money for the company logo that he created in 1995 when the company was first getting started.
According to a lawsuit filed Thursday in a Manhattan federal court, Walker is asking for $7 million in unpaid royalties for designing the logo, which features the letter R, a record and a champagne bottle.
“The logo has become universally recognized as an iconic symbol of Jay-Z, one of the most successful recording artists in the history of popular music,” the lawsuit says.
Roc-A-Fella was originally founded in 1996 by Jay-Z, Damon “Dame” Dash and Kareem “Biggs” Burke and it is now a subsidiary of Universal Music Group.
Getting hit with a lawsuit is never a good thing, but we all know $7 million is probably chump change to this Brooklyn Nets owner.