Wiz Khalifa wants back his money from a 360 deal he’s been trapped in for over 10 years. On yesterday (May 31), Wiz Khalifa filed a lawsuit against his former manager and record label. He is seeking compensatory damages in the amount of $1 million, as well as, punitive damages and attorney’s fees. According to Variety, the lawsuit claims that Benjy Grinberg and Rostrum Records acted as “faithless fiduciaries in direct contravention of their obligations to him.” The documents also express that, although the 360 deal endured several amendments over the years, Grinberg failed to tell Khalifa about other profitable opportunities that were available to him as an artist. The affects of the Grinberg and Rostrum Records sharing Khalifa’s income stream (i.e. songwriting, touring, and merchandising), ultimately, set the rapper back financially and emotionally. “An artist’s most trusted advisor is his or her personal manager,” Wiz Khalifa’s attorney, Alex Weingarten, said. “Generally, nothing good comes out when the manager decides to go into business against his artist. Unfortunately, that is the case here.” Grinberg is shocked by the lawsuit’s allegations. “To witness an artist turn on you after supporting them for a number of years is very disheartening. This is an egregious lawsuit filled with inaccuracies, yet unfortunately people sometimes resort to these practices as a way of conducting business.” Wiz Khalifa dropped Grinberg and Rostrum as his managers two years ago (2014). But, the 360 deal is still in place. According to the California Labor Code, Khalifa can end the 360 agreement under the seven-year rule.
