Jay-Z has been awarded $4.5 million in lawsuit with perfume company Parlux over Gold Jay Z cologne.
We cannot but call this a big win for Jay-Z in the ongoing court case with the perfume company Parlux as an appellate court ruled Parlux owed the rapper $4.5 million in royalties from their previous business relationship.
The 52 year old hip hop rapper, was initially sued for $68 million in 2016 by Parlux, who alleged that he didn’t fulfill his contractual obligations set forth in 2012 to promote the fragrance, which was called Gold Jay Z.
According to page six report, the case went to trial in New York City, lasted for three weeks and Jay-Z, testified for two days, according to the outlet.
Thursday, the jury said that Jay-Z, who was attorney Alex Spiro, was not responsible for the $68 million, neither did Parlux owe the $4.5 million in outstanding royalties.
Justice John Higgitt (Appellate Division, First Department) said that, the results of an appeal showed that Jay-Z and his organization S. Carter Enterprises LLC were actually entitled to summary judgment on their royalties counterclaim’ in the suit.
Haggit said, ‘The record is clear: Parlux sold licensed products after July 31, 2015, but failed to pay royalties on those sales’.
Parlux attorney Anthony, Viola had said that the 99 Problems performer violated the 2012 contract by not appearing at a Macy’s event launching the debut of the fragrance in 2014, and didn’t promote the product on Good Morning America and in Women’s Wear Daily as agreed upon.
He went on to say that ‘Parlux invested $29 million into that venture, upheld its end of the bargain, but the defendants didn’t uphold their end of the bargain’. Viola continued that ‘If the defendants had fulfilled the contract, if they have upheld their end of the bargain, Parlux would have had a runaway success. We would have $67.6 million in net profits.’
However, Jay-Z’s lawyer said ‘Why on Earth would Jay-Z put his name on one product and only one product in his entire career if he wanted that product to fail?’.
Anyways it’s a big win for Jay-Z. Congratulations to him.