Jay-Z's former lawyers, who represented the mogul when he purchased Tidal, have dropped their $600k lawsuit against him after he accused them of overbilling him.
According to court documents obtained by The Blast, the Swedish law firms who filed suit against Jay’s company filed a “stipulation of discontinuance” of their case, meaning they are dismissing it in full without the option to refile at a later date.
The stipulation was signed by both parties' legal teams and the case will now officially be shut.
As The Blast first reported, Jay-Z’s company, S. Carter Enterprises, was sued by two Swedish firms, Roschier and SEB, claiming they were owed money for their work. The firms explained they were hired in late 2014 to represent Jay in the Tidal deal. They claim they were to “act as financial advisor and handling and settlement agent to Carter Enterprises or its designee for the Tidal deal.”
The firms each claimed that S. Carter Enterprises paid them some of what they were owed, but not all. One firm, Roschier, claims they are owed $294,000 while the other, SEB, says they are still owed $304,383.
Jay-Z’s company demanded the suit be tossed and accused the lawyers of seeking more money than they deserve. Jay also argued the firms didn’t do their jobs to the full extent, saying that the lawsuit should be tossed because they did not “perform under the contracts they now seek to enforce.”