In a new lawsuit, Jay-Z is demanding that Bacardi, which he says is legally required to buy his 50% stake in the company, turn over key information about their D’Usse brand of Cognac.
Jay Z and 'OG' Juan Perez attend the Jay-Z And Beyonce Summer Ends With D'USSE Cognac Cocktails Celebration at La Marina Restaurant Bar Beach Lounge on September 23, 2012 in New York City.wants to sell his stake in D’Usse Cognac, and says that Bacardi – which owns the other half of the business – is legally required to buy it. But in a new lawsuit, the superstar claims the liquor giant is “lowballing” and “stonewalling” him to get a cheaper price.
But according to the lawsuit, which was made public on Thursday , Bacardi and Empire responded to the move not by following the rules, but by refusing to hand over key information and scheming to “artificially depress” the price it would pay.“Empire sought to stall and stonewall SC’s efforts in an attempt to wrest SC’s 50% membership interest in D’Usse at a cheaper price by, among other things, refusing to provide necessary information,” SCLiquor’s lawyers wrote.
But Jay-Z’s lawyers say that when they exercised the put option last year, Empire and Bacardi did anything but operate in good faith.
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