JAY-Z’s S. Carter Enterprises is being sued by the Swedish law firm and the financial institution he hired to purchase music streaming service Tidal in 2014. The two companies are accusing the mogul of failing to pay $598,383 (collectively) owed to them for their work, according to court documents obtained by the Blast.
A lawsuit filed in Manhattan Federal Court names law firm Roschier Advokatbyra AB and finance company Skandinaviska Enskilda Banken (SEB) as the complaintants. The suit claims that both companies only received partial payment for the hours they spent working on the deal for JAY-Z to acquire the streaming platform.
Roschier alleges they billed S. Carter Enterprises for $629,000 but received only partial payments, leaving an outstanding balance of $294,000. SEB claims they charged the company $785,894 and similarly received only partial payments, leaving an unpaid balance of $304,383.
The lawsuit reads: “JAY-Z and Tidal’s co-owners have been described as ‘the 1% of pop music artists who do not answer to corporations.’ Alas, that approach apparently extends to Carter Enterprises’ bills for the services that facilitated JAY-Z’s ownership of Tidal.”
Roschier and SEB are each suing for the remaining balance owed, expenses and interest. JAY-Z has yet to respond to the lawsuit.