Jay-Z, the rapper mogul in hip-hop, will no longer have to raid his bank account to pay $68 Million to a perfume manufacturer for failing to market his fragrance. Wednesday’s ruling by a Manhattan jury brought an end to five-year-old story.
The perfume company Parlux had filed the the breach of contract suit in 2016 after accusing Jay-Z – whose real name is Shawn Carter – and his company S. Carter Enterprises of failing to promote his fragrance Gold Jay Z.
After a lengthy three-week trial, and over two hours of discussion jurors found him innocent.
Jay-Z also lost his $6 million countersuit regarding alleged unpaid royalties.
‘You failed to prove your case, they failed to prove their case,’ Manhattan Supreme Court Justice Andrew Borrok said after reading the verdict.
He said to the jury, “You are excused.”
Jay-Z, in a black suit with sunglasses, left the courtroom happy after his breach-of-contract suit against perfume company was dismissed.
On Wednesday, the rapper mogul smiled as he left Manhattan Supreme Court.
Parlux filed the 2016 lawsuit after Parlux accused Parlux of not promoting its product Gold Jay Z.
Parlux signed Carter a 2012 contract, agreeing that he would lend his name for a perfume line
Wearing a black suit with sunglasses, the singer walked out beaming from delight.
“Do you think that there are 98 problems?” A reporter jokedly asked the question in reference to his song “99 Problems”.
Jay-Z replied, “I like that,” and he chuckled.
Two days of testimony were given by the singer during the trial that began October 18.
Parlux had charged Jay-Z with costing Parlux millions by not advertising his fragrance during the November 2013 launch, or keeping the brand financially viable.
Jay-Z lawyer Alex Spiro claimed that Tuesday’s closing argument was an’misunderstanding’ which was “exacerbated by dishonestdeal brokers”.
Parlux responded by saying Jay-Z “disapproved and vanished” when he could not get what he wanted. After the lawsuit, evidence was destroyed and Parlux sued.
Parlux invested $29,000,000 in the venture. Paralux invested $29 million in that venture.The defendants didn’t uphold their end of the bargain.’
Parlux would be a great success if defendants had kept their promises. The net profit margin would have reached $67.6 Million.
Viola had been in a dispute with the singer. He accused Viola of using “little lawyer tricks” and even threatened to file an additional lawsuit.
Viola was also informed by the singer that he had not reviewed his contract with Parlux.
‘At the moment you signed this agreement, you didn’t know that you would personally have obligations distinct and separate to your company’ Viola asked Viola.
‘I’m not a lawyer,’ he responded. “All I can tell you is that I am in control of my own body and what I do with it.” No. I didn’t read the contract.
Jay-Z can be seen walking out of Manhattan Supreme Court, after the jury ruled that neither side proved their case
Jay-Z is pictured with Alex Spiro (his lawyer during his trial).
Jay-Z said Parlux failed to market its brand properly and failed to prevent the fragrance being sold on shelves using products like ‘hand soap’ and ‘Tic Tacs.
He previously called work at the company “crappy” and “lazy”.
He insisted that he didn’t want the perfume to go bad.
‘If I hurt Parlux and I hurt Gold Jay Z — they are in my name,’ he had testified.
“I am not going to trim my nose in order to make my face look better. While it was hard, I still tried to build something special.