Jay-Z has one less problem on his radar. The rapper is still set to receive a major payday that will allow him to pocket $6.8 million.
“The record is clear: Parlux sold licensed products after July 31, 2015, but failed to pay royalties on those sales,” wrote Justice John Higgitt of the New York Appellate Division, according to Billboard.
In August 2022, a verdict from Manhattan Supreme Court Justice Andrew Borrok said Parlux would have to compensate Jay-Z $6.8 million in unpaid royalties, plus interest.
“We’ve been awarded and will be receiving the money as we should,” Jay-Z’s lawyer Alex Spiro shared, per the outlet.
Parlux filed an appeal at the time. However, in the most recent update, a New York state appeals court has swayed in the favor of Jay-Z. Robb Report states a five-judge panel upheld the verdict that was handed down during the 2021 court hearing, clearing Jay-Z of the $67 million in damages. In addition, the judges doubled down on the verdict that Jay-Z was in fact owed the staggering $6.8 million from Parlux.
“There were multiple rational bases for upholding the jury verdict, and plaintiffs have not set forth a sufficient basis…to overturn it,” the panel ruled, per Billboard.
That’s one more significant win for Jay-Z. Better yet, he could be on the brink of another victory that fortunately is unrelated to a court hearing. As AfroTech previously told you, the rapper is seeking to bid for an immersive gaming facility, which could generate billions in tax revenue for the city and state of New York.