( 4UMF NEWS ) Fat Joe Settles Big Pun Royalty Lawsuit:
Fat Joe has agreed to settle a lawsuit with Big Pun’s family that accused him of swindling at least $2 million out of the late rapper.
Joey Crack and his codefendant, music publisher Jelly’s Jams, made a deal with Big Pun’s widow, Liza Rios in her breach of contract case that will effectively stop it from going to trial.
Lawyers for the parties announced the deal Wednesday morning during a status hearing at Manhattan Federal Court.
“Your honor, the parties have settled,” Fat Joe’s lawyer Benjamin Stranzl said.
The settlement news comes one day after lawyers for both sides spent all day in mediation. Neither Fat Joe nor John “Jellybean” Benitez of Jelly’s Jams appeared at Wednesday’s hearing.
Big Pun’s widow sued the Fat Joe and music publisher Jelly’s Jams for breach of contract, alleging that Fat Joe reneged on a deal to split Pun’s music profits, and wants his back royalties, advances and money from using his songs on TV and in movies.
The terms of the settlement were confidential, but an expert testified that Fat Joe owed Big Pun at least $2 million.
“We are pleased with the settlement,” Rios’ lawyer Lita Rosario told BOSSIP. “We think it was fair, and we’re pleased.”
Stranzl, and Fat Joe’s other lawyer John Cain, refused to comment after the hearing. Lauren Kruger, lawyer for Jelly’s Jams, also declined to comment.