Cardi B has responded to her ex Manager’s April lawsuit against her\u00a0for $10 million, with her own lawsuit for $15 million!<\/p>\n
Cardi B claims her manager Klenord Raphael, a.k.a. Shaft gained her trust, cut her off from other friends and advisers and then signed her on to contracts that were variously described in the suit as \u201cgrossly unfair,\u201d \u201chighly one-sided\u201d and \u201chighly favorable to himself.\u201d<\/p>\n
Cardi’s lawsuit falls under “exploitation” and “fiduciary duty” .\u00a0 However, exploitation laws vary state to state and typically involve persons financially taking advantage of elders or disabled persons, which Cardi is neither.\u00a0 Cardi’s attorneys argue instead that managers have a special fiduciary duty to their artists:<\/p>\n
\u00a0“In exchange, the law imposes a high fiduciary duty on the manager to always act in the artist’s best interest, not engage in conflicts of interest, not overreach, and not self-deal.”<\/p><\/blockquote>\n
Cardi’s suit specifically points out Shaft\u00a0set up a management deal with her that she considers far too one-sided. According to the suit, Shaft got a 20% commission, but tried to take even more dough off her Sony music publishing deal. Cardi says he demanded 50% of that deal!\u00a0 She claims Shaft also tried to control every aspect of her life by putting “barriers between her and people close to her in an effort to maintain complete control over her.”<\/p>\n
Shaft who was responsible for her TV role on “Love and Hip Hop” and her first major hit “Bodak Yellow” which catapulted her into super stardom claims this counter claim is apart of Cardi B’s team campaign to defame him because he is seeking damages for being iced out of her success they he helped built.<\/p>\n
Keep it locked here for the judge’s final decision.<\/p>\n
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