Lil Durk is facing legal troubles as Fintech company Exceed Talent Capital has filed a lawsuit against him. The complaint, lodged with the US District Court for the Southern District of New York on December 6, alleges that Lil Durk, born Durk Derrick Bank, along with his business manager Andrew Bonsu and label Only The Family Entertainment, attempted to sell the rights to his song “Bedtime” to Exceed Talent Capital while being under an exclusive contract with Sony Music Entertainment’s Alamo Records.
Exceed Talent Capital asserts that they acquired the rights to “Bedtime” for $600,000, only to later discover that Lil Durk had already assigned the exact same rights to a third party. The partnership between Exceed and Lil Durk, announced last fall, began with the introduction of a “Trenches All-Access Pass” NFT, offering fans exclusive access to a private Grand Theft Auto roleplay server created by Lil Durk and his OTF Gaming company.
In May, Exceed says they were notified by Alamo Records via a demand letter about Durk’s exclusive recording agreement, and as a result, neither they nor distributor Empire had the rights to assign any interest in revenue streams generated by “Bedtime.” According to documents obtained by Music Business Worldwide, Exceed was forced to “return the funds that had been invested by third parties in the offering, further significantly damaging Exceed’s reputation and relationships with its partners and investors.”
Exceed, which had reportedly paid $450,000 of the $600,000 owed, now asserts that they have incurred $12 million in damages due to the collapsed deal.
