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Jay-Z has finally reached a settlement with David "Big Papi" Ortiz over the baseball star's use of the name 40/40 Club.
When Ortiz attempted to open a club named "Forty-Forty" in the Dominican Republic, Jay-Z slapped the Red Sox star with a $5 million dollar lawsuit.
Earlier in this month, lawyers for Ortiz claimed that Jay-Z wanted too much to settle the case, leading many to believe the matter would have to be settled by a judge.
According to The New York Daily News, Jay-Z and Ortiz were slated to head to Manhattan Federal Court today (March 29th) over the issue, after a round of negotiations failed last month.
"The case has been settled in principle," Jay-Z's attorney Peter Raymond told The New York Daily News. "We have agreed on the outlines of a settlement and need to reduce it to writing."
Source: allhiphop.com
When Ortiz attempted to open a club named "Forty-Forty" in the Dominican Republic, Jay-Z slapped the Red Sox star with a $5 million dollar lawsuit.
Earlier in this month, lawyers for Ortiz claimed that Jay-Z wanted too much to settle the case, leading many to believe the matter would have to be settled by a judge.
According to The New York Daily News, Jay-Z and Ortiz were slated to head to Manhattan Federal Court today (March 29th) over the issue, after a round of negotiations failed last month.
"The case has been settled in principle," Jay-Z's attorney Peter Raymond told The New York Daily News. "We have agreed on the outlines of a settlement and need to reduce it to writing."
Source: allhiphop.com