Music mogul Jay-Z filed a lawsuit against Bacardi, a partner in his company SC Liquor, over lack of financial transparency regarding his D’Usse cognac brand.
SC Liquor released D’Usse under a 50/50 partnership with Bacardi, but the financial details for the top-shelf cognac brand are reportedly not up to par for the 24-time Grammy winner. He is now seeking legal assistance to obtain D’Usse’s financial records, according to TMZ. Court documents indicate Jay-Z is demanding to see all books and records associated with his cognac brand, in addition to a series of other particulars, TMZ reported.
Jay-Z wants to know just how much money his famous cognac line is making, and he’s filed a lawsuit against his partners at Bacardi to get that information. https://t.co/CAIjyj1yO2
— TMZ (@TMZ) October 18, 2022
The famous rapper and entrepreneur’s court documents also demand that he be given access to all warehouses storing his D’Usse products and provided with information about Bacardi’s physical inventory and how that inventory is tracked and recorded, per TMZ. (RELATED: REPORT: George Floyd’s Family Lawyer Is Exploring Every Avenue To Sue Kanye West)
It is unclear what prompted Jay-Z’s concern, or what led him to seek this information, but court documents indicate SC Liquor wants to monitor the conduct of [Bacardi’s] business to protect SC’s rights as” a partner in the company, according to TMZ.
Jay- Z and Bacardi have been partners in D’Usse since 2011, and the musician has heavily promoted the brand to the public.