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Don’t try to pretend that you didn’t already expect Soulja Boy to go broke at some point. The 21-year old who shot to the top of the charts with “Crank That” back in 2006 is finding that fame isn’t all that it’s cracked up to be. He was 16 then, signing any contract he could get his hands on. That included a deal that he would come to eventually regret.
The rapper, whose real name is DeAndre Way, just filed a lawsuit against Philip Ransom, saying that he was coerced into signing a deal that gives Ransom a cut of his income for the rest of his life.
The court documents describe the deals as being “unconscionable, oppressive, and unjust.”
Ransom is entitled to 5% of Soulja Boy’s earnings forever, even beyond the rest of his life. It also gave 50% of the music copyrights to Soulja Boy’s label.
Soulja Boy’s attorneys say that Ransom’s demands are “commercially unreasonable” and “contrary to music industry custom and practice.”
Ransom filed his own claims, arguing that the artist still owes him money.