Executive alleges he was wrongfully forced out after lucrative deal signed with Drake and Caffeine, Inc.
FOR IMMEDIATE RELEASE
NEW YORK, NY. (September 15, 2020) – Co-founder of the Ultimate Rap League, Dagoberto Velez recently filed a $40 million lawsuit against Ultimate Rap League LLC (URL), alleging he was wrongfully pushed out of the battle rap company after it signed a lucrative deal with world-renowned recording artist Aubrey “Drake” Graham and social broadcasting platform Caffeine. Velez, who helped build URL as, among other things, its primary talent recruiter, filed the multicount lawsuit against URL and executives Troy Mitchell, Eric Beasley and Jean French, alleging breach of contract, wrongful dissolution, negligent misrepresentation, breach of fiduciary duty and unjust enrichment among other counts. Velez is represented by attorneys Jamar Creech of Diversified Law Group, Landon White and Martinis Jackson.
According to the lawsuit, Velez co-founded URL in 2009 and has since been responsible for identifying and securing most of the talent that appeared on the company’s many online rap battles. The lawsuit states that Velez had authority to bind the company to contracts and engage in negotiations. He often appeared on camera to represent URL, and his image and likeness often appeared on advertisements. The lawsuit explains that Velez was an integral part of developing URL into “The World’s Most Respected MC Battle Arena,” and defendants Mitchell, Beasley and French have made admissions that Velez is a partner or joint venture of the company.
In February 2020, URL announced a partnership with Drake and Caffeine, Inc., to supply battle rap content on Caffeine’s social broadcasting platform. On April 28, 2020, the defendants publicly “dissolved” their relationship with Velez. On July 1, 2020, Caffeine announced that it raised $113 million in a Series D round of funding and that battle rap will be its “anchor” content and highlighted its relationship with URL.
The lawsuit states that Velez was a significant contributor to URL, helping it get exposure on national television and contributing to the landing of the company’s deal with Caffeine, Inc.
Velez seeks more than $40 million in damages as well as a 10% royalty in perpetuity from URL. The lawsuit is available here and at www.LawsuitPressRelease.com.
Source: Diversified Law Group, LLC
Contact: John P. David