Ryan Leslie Gives Up Rights To Music Catalog In Court Case Settlement
Singer/songwriter/producer Ryan Leslie just took a major legal L. He was recently forced to give up the rights to his music catalog in order to settle a court case stemming from his 2010 offer of a $1 million reward for the recovery of his lost laptop. After a man by the name of Armin Augstein returned the laptop to Leslie, the artist soon discovered that unreleased music he thought might be on the computer wasn't. Therefore, he reneged on the reward, prompting Augstein to file suit. A jury awarded Augstein a $1.18 million judgment, but Leslie filing for bankruptcy soon after made it difficult for him to get the money. Now, both parties have reached an agreement where Leslie will give up the rights to his catalog. Per the agreement, Augstein will be entitled up to earn up to $538,000, after which, the rights will then be reverted back to Leslie. However, if Augstein has not received $300,000 in six years, then he will continue to hold on to the rights until he is paid in full. Damn, son! #Ouch
