Jermaine Dupri may lose the rights to some of his So So Def label's music thanks to a $1.9 million lawsuit. According to the Atlanta Journal-Constitution, the mogul is being sued by SunTrust bank for defaulting on a $4.9 million loan from 2010.
The bank says that Dupri backed up the loan with copyrighted music from the label, which boasts releases by Xscape, Da Brat, Jagged Edge, Lil' Bow Wow and more.
Dupri is no stranger to financial woes, having taken out the initial loan in 2009 to pay off taxes and liabilities; he restructured it the following year. He's also twice faced foreclosure on his $4 million Atlanta mansion, but the sale has yet to take place.
The bank's suit says that Dupri, who has yet to comment, won't incur attorney fees if he pays up within 10 days of the filing.Jermaine Dupri May Lose Song Rights in Lawsuit
- Jermaine Dupri
- SunTrust bank