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Beyonce Knowles has been hit with a $1.5 million lawsuit by Icon Entertainment for allegedly breaching a contract for her House of Dereon clothing line.
Filed in New York State's Supreme Court, the suit alleges that Icon CEO Greg Walker was not fully compensated by Beyonce, her mother/manager Tina Knowles and Wear Me Apparel Corp. after securing a $15 million dollar deal between all aforementioned parties to create the "House of Dereon" clothing line.
Walker claims that in August of 2003 he was hired by the Knowles to secure endorsement and licensing opportunities to increase Beyonce's profile.
According to Walker, Tina Knowles issued him two payments totaling $25,000 on behalf of her daughter for his role in securing the deal with Wear Me Apparel Corp., but failed to pay the remainder of his fee as previously agreed upon.
"Beyonce and Tina Knowles agreed on the terms of our business relationship, but have failed to properly compensate me for reasons unknown to me," said Walker via statement. "I just want to receive my fair share and move on with my business."
Wear Me Apparel Corp., who is also named as defendants in the lawsuit, only paid $85,000 to Walker for his services. He is also suing the company for $1.5 million for failing to make proper payments.
Representatives for Beyonce could not be reached at press time.
In related news, Beyonce is gearing up for the release of her second album titled B-Day. Set to hit shelves on September 5th, the album features an appearance from Jay-Z and boasts production from Swizz Beatz, Rodney Jerkins, The Neptunes and Rich Harrison.
Source: sohh.com
Filed in New York State's Supreme Court, the suit alleges that Icon CEO Greg Walker was not fully compensated by Beyonce, her mother/manager Tina Knowles and Wear Me Apparel Corp. after securing a $15 million dollar deal between all aforementioned parties to create the "House of Dereon" clothing line.
Walker claims that in August of 2003 he was hired by the Knowles to secure endorsement and licensing opportunities to increase Beyonce's profile.
According to Walker, Tina Knowles issued him two payments totaling $25,000 on behalf of her daughter for his role in securing the deal with Wear Me Apparel Corp., but failed to pay the remainder of his fee as previously agreed upon.
"Beyonce and Tina Knowles agreed on the terms of our business relationship, but have failed to properly compensate me for reasons unknown to me," said Walker via statement. "I just want to receive my fair share and move on with my business."
Wear Me Apparel Corp., who is also named as defendants in the lawsuit, only paid $85,000 to Walker for his services. He is also suing the company for $1.5 million for failing to make proper payments.
Representatives for Beyonce could not be reached at press time.
In related news, Beyonce is gearing up for the release of her second album titled B-Day. Set to hit shelves on September 5th, the album features an appearance from Jay-Z and boasts production from Swizz Beatz, Rodney Jerkins, The Neptunes and Rich Harrison.
Source: sohh.com
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