Megan Thee Stallion is worried her alleged coins are in jeopardy after claiming 1501 Certified CEO is spending it all up!
Megan Thee Stallion Is Worried About Her Coins
The “Plan B” rapper is asking a judge to put a hold on 1501 Certified CEO Carl Crawford’s company spending while they are wrapped up in litigation. She believes that he is purposely spending as much money as he can in order to be “drained” by the time, if it comes for him to pay up to Meg whose real name is Megan Pete.
In a motion filed on Wednesday, Megan claims that there is less than $10,000 in the 1501 primary account. Meg claims that money is certainly being deposited into the account but there is no reflection of that.
Meg and her team of lawyers are claiming that the disappearing money is lining Crawford’s pockets, hindering the “Savage” rapper from getting what she is supposedly owed. Meg also claims that two other people are getting paid along with Crawford; J. Prince and Gee Roberson who help run the label.
Megan Thee Stallion Legal Dispute Is Years In
Meg has been locked in litigation with her former record label for several years now. She is suing for royalties and to be released from her contract. This is just the latest change in the case and the newest motion to be filed by Meg and her team.
The two haven’t spoken since 2019 and there is clearly some bad blood because of the situation and Meg is not letting up. In her initial lawsuit, she shared that her label was essentially attempting to hold her hostage with a contract that benefits them.
Meg was hoping that her 2021 album Something for Thee Hotties would be it for that partnership but the label quickly told her it doesn’t fulfill her contract requirements. She also claims before that the label was getting in the way of her releasing new music once she spoke up about wanting to renegotiate her contract.
So far, there are four active lawsuits between Meg and her label including one that covers the rapper’s contract. Meg admits she signed a contract back in the day and didn’t fully understand what she was signing.
Megan Thee Stallion’s Contract Is Not Standard
Meg and her lawyers broke down that contract in court and the rapper also took to social media to share her thoughts on the matter. “When I signed, I didn’t really know what was in my contract. I think I was, like, 20,” she said in an IG Live.
In the contract, Meg is said to be paid 40% of the recording profits, while 1501 receives the remaining 60%. This isn’t industry standard the contract is supposed to be 50/50. She became aware of the shady contract after signing with Roc Nation and being advised by their team.
This is what led to that negotiation with 1501 thus barring her from releasing music.
As for Crawford, he explained a few months back that he isn’t trying to hold back Meg. “I never wanted to have a situation where I was going back and forth with [Megan Thee Stallion] on the internet.”
He knows the company rep was shady and he and a new label head are working to make that better. “I have to take responsibility for anything that happens over here at 1501,” he promises.